The Government Inspectorate recently issued Conclusion No. 82/KL-TTCP regarding the management responsibilities in planning at Ho Chi Minh City, recommending the collection of 802.8 billion VND in land use fees from outstanding projects. Nova Richstar, a subsidiary of Novaland, is required to pay 446.2 billion VND for its Richstar Residence project due to underpayment of land use fees. The conclusion pointed out that the city’s adjustment of the plan without calculating the supplement was against regulations. Tan Phu District also accepted the handover of two plots from Nova Richstar that did not comply with planning requirements. Novaland’s Richstar is the first mixed-use project in Tan Phu, started in 2016 and completed in 2018. Additionally, the Group is facing financial difficulties due to a debt of 18 trillion VND.
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