The Hanoi Department of Natural Resources and Environment has decided to crack down on investors who delay the issuance of "red books", to home buyers (Source: vov.vn)
Hanoi (VNA) - The Hanoi Department of Natural Resources and Environment has decided to crack down on investors who delay the issuance of land use certificates, known as "red books", to home buyers.

The department will call for the involvement of district people’s committees and inspectorates to deal with investors after two inspection teams reviewed the delay and proposed solutions, an official said.

The problem came to light when 45 households in the Song Da apartment building on Cau Giay Street complained that they had not been granted house ownership certificates.

According to regulation, the investor, Song Da 1 company, is responsible for submitting the relevant documents for the residents’ red books.

La Thuy Phuong, a resident of the building, said she had lived there for 11 years and received promises from the investor - but had yet to receive any announcement that her red book had been issued.

Residents of the Meco Complex apartment building on Truong Chinh Street are also frustrated, having spent billions of dong to buy apartments and having their ownership rights delayed.

Nguyen Huu Nghia, deputy director of the Hanoi Department of Natural Resources and Environment, said that residents of about 50 buildings in the city are waiting for red books due to investor delays. The department has sent them many reminders, to no avail.

The department will now consider refusing permits to these investors to implement other projects if the delay continues.

Lawyer Bui Sinh Quyen, head of Phuc Tho Law Office, said that the investors might mortgage the red books, which seriously violates the law. House buyers might lose their apartments and all the money they paid for them.

The Construction Ministry is calling for comments on a draft proposal on administrative punishments in construction activities. Accordingly, investors who fail to submit documents for land-use certificates might be subject to a fine of up to 1 billion VND (45,000 USD).-VNA