Rights and obligations of investors in commercial housing construction projects
1. Rights of investors of commercial housing construction investment projects
- Require relevant agencies and organizations to carry out procedures in accordance with the provisions of law during the process of approving investment policies, formulating, approving and implementing projects.
- Sell, lease purchase, and rent housing; Mobilize capital, collect money from sales, lease purchases, and leases of housing according to the provisions of the Housing Law 2023, the law on real estate business and according to the content of the signed contract.
- Exercise the rights of land users and sell products in the project according to the investment policy approval and approved project content.
- To transfer part or all of the project according to the provisions of law on real estate business, land law, and investment law.
- To manage and exploit the technical and social infrastructure systems within the project scope that do not have to be handed over to the State according to the approved investment policy and project content.
- Request a competent state agency to issue a Certificate for housing built in the project according to the provisions of Article 9 of the Housing Law 2023 and land law.
- Enjoy preferential policies from the State during project implementation according to the provisions of law.
- Other rights as prescribed by law.
(Article 38 of Housing Law 2023)
2. Obligations of investors of commercial housing construction investment projects
- Prepare, approve and implement the project in accordance with the approved investment policy content, approved project content, regulations of the Housing Law 2023, construction laws and other regulations of the Government relevant laws.
- Make a deposit or have a bank guarantee on deposit obligations to implement the project in accordance with the law on investment; pay a guarantee for housing transactions in accordance with the law on real estate business; ensure financial capacity to implement the project according to the provisions of law.
- Construction of houses and technical and social infrastructure projects in assigned projects in accordance with detailed planning, investment policy approval content, compliance with design and house area standards Housing and project content have been approved.
- In case of transfer of land use rights for individuals to build their own houses according to the provisions of this Law, the investor of the housing construction investment project may only transfer after completion and acceptance. Put into use the technical infrastructure system according to the provisions of construction law and real estate business law for the transferred area.
- Report on the implementation status and results of project implementation periodically and at the end of the project according to the provisions of housing law and real estate business law.
- Sign contracts and documents related to capital mobilization to implement housing construction investment projects according to the provisions of the Housing Law 2023, laws on real estate business and other provisions of law related. Do not authorize or assign a party participating in investment cooperation, joint venture, association, business cooperation, capital contribution or other organizations or individuals to sign housing lease, lease purchase, or purchase and sale contracts. Deposit contract for housing transactions or land use rights business in the project.
- Fully implement commitments in the project's product sales contract; ensure the quality of works according to the provisions of construction law; hand over the housing along with documents related to housing transactions to customers and carry out transactions of buying and selling, leasing, purchasing housing, and trading land use rights in accordance with the provisions of the Housing Law 2023, law on real estate business and other relevant laws.
- Within 50 days from the date of handing over the house to the buyer or from the date the lessee has paid in full as agreed, the application must be submitted to a competent state agency to issue a Certificate for home buyers and lessees, except in cases where the buyer or lessee voluntarily carries out procedures to request a Certificate.
- Housing warranty according to the provisions of the Housing Law 2023 and construction laws; Fulfill financial obligations to the State according to the provisions of law.
- Comply with legally effective decisions of competent authorities on handling violations of the law in housing development, capital mobilization, customer advances, and home transactions. Housing and other activities specified in the Housing Law 2023.
- Compensate for damages in case of causing damage to customers or to organizations and individuals participating in housing investment and construction.
- Obligations specified in Clauses 2 and 3, Article 83 of the Housing Law 2023.
- Other obligations as prescribed by law.
(Article 39 of Housing Law 2023)