Condominium Project Investment Adjustment Procedure

The Condominium Project Investment Adjustment procedure is required when changes arise from a previously approved decision. This adjustment covers both investment policy and investor approval. Correctly executing this procedure ensures project legality and transparency. It allows the project to proceed efficiently, aligning with planning and practical needs. This article by Long Phan Consulting Company analyzes this specific procedure.

Competent Authority for Condominium Project Investment Adjustment

In accordance with Decision No. 891/QD-BXD (issued September 25, 2024), the authority for the Condominium Project Investment Adjustment procedure is as follows:

• Deciding Authority: The Provincial People’s Committee (PPC) where the condominium is located.
• Implementing Body: The Department of Construction (DOC).

Applicants may submit dossiers directly, via postal service, or online to the PPC’s Public Administration Service Center or its equivalent receiving division.

Dossier Composition and Quantity

Applicants for the Condominium Project Investment Adjustment procedure must prepare 08 complete dossier sets. As specified by Decision No. 891/QD-BXD, the dossier includes the following documents:

• A written request for the adjustment of the investment policy. This document must detail:
  • Investor information and commitments (if an investor is already selected).
  • The specific contents of the investment policy proposed for adjustment.
  • Justification or supporting documents related to the adjustment request.
• Copies (presented with originals for comparison, or certified copies, or valid electronic copies) of the following:
  • The original Investment Policy Approval document issued by the competent authority.
  • The Investor Approval decision or the decision approving the bidding results for the condominium renovation project.
  • A report on the project’s implementation status up to the time of the adjustment request.

Procedural Steps for Condominium Project Investment Adjustment

The procedure is specified in Decision No. 891/QD-BXD and Decree No. 98/2024/ND-CP. The process includes the following steps:

• Step 1: The selected project investor submits 08 dossier sets as required to the Department of Construction (DOC). The DOC reviews the dossier for submission to the Provincial People’s Committee (PPC).
• Step 2: Within a maximum of 03 working days from receiving the complete dossier, the DOC shall send requests for evaluation to relevant provincial agencies concerning the adjustment contents.
• Step 3: Within a maximum of 15 days from receiving the DOC’s request, the consulted agencies must provide their written opinions to the DOC.
• Step 4: Within a maximum of 10 days from receiving all agency opinions, the DOC must finalize the evaluation dossier and submit it to the PPC.
• Step 5: Within a maximum of 07 working days from receiving the DOC’s submission, the PPC shall review and approve the investment policy adjustment. If the PPC rejects the adjustment, it must issue a written notice to the investor and the DOC, clearly stating the reasons.

>>> See more at: Guide to Investment Policy Approval

Consultation Service for Condominium Project Investment Adjustment at Long Phan Consulting Company

Long Phan Consulting Company provides services for the Condominium Project Investment Adjustment procedure. We support investors in handling legal issues during project implementation. Our experts understand investment and construction law. We offer comprehensive solutions for accurate and compliant adjustments.

The scope of services at Long Phan Consulting Company includes:

• In-depth legal consultation on the procedure and compliance requirements.
• Guiding clients in preparing necessary documents; drafting the dossier according to legal standards.
• Acting as the authorized representative to submit the dossier to competent state agencies.
• Actively monitoring and providing clients with continuous updates on the dossier’s processing status.
• Receiving the final results and delivering them to the client.

Frequently Asked Questions (FAQ)

Below are common questions regarding the Condominium Project Investment Adjustment procedure:

What is the total resolution time for this investment adjustment procedure?

Per Decision No. 891/QD-BXD, the maximum processing time is 35 days, counted from the date of receiving a complete and valid dossier.

Is there a state fee for this procedure?

No. The Condominium Project Investment Adjustment procedure does not require a state fee.

Does the law provide official forms for the dossier?

Per Decision No. 891/QD-BXD, the law does not provide specific templates for these documents. The applicant must draft the văn bản (documents) based on the specific circumstances of the project.

What is the final result of this procedure?

Per Decision No. 891/QD-BXD, upon successful completion, the applicant will receive a written document approving the investment policy adjustment.

Conclusion

The Condominium Project Investment Adjustment procedure is complex. It demands a precise understanding of legal regulations and practical experience. Compliance with dossier requirements and procedural steps ensures a smooth, timely, and lawful process. For professional and effective support, contact Long Phan Consulting Company via hotline 1900636389.