Buying land in India will be tough
Acquiring land for industrial and infrastructure development in India will be a tough job after the Land Acquisition Bill get confirmation of the parliament.
The industry is alarmed by the panel’s suggestion that the government should no longer help the private sector buy land. Instead, they recommend the government should intervene in negotiations with landowners public interest projects are involved.
The report also said that even in projects where state run agencies partnered with private companies for particular projects, government authorities should not get involved with land acquisition.
Reaching consensus among landowners for projects that require 1,000 acres of land or more is nearly impossible without government support.
The real estate builders in India feel that this will make land acquisition more complex and difficult, leading to slower growth in industry and therefore, the economy.
The report also seeks to ban the acquisition of all agricultural land to ensure safeguard for food security.
More related stories:
Construction of Residential Apartments in Noida Extension is Still under Question Mark
Source: Wall Street Journal
Acquiring land, Acquisition of agricultural land, land acquisition, Land Acquisition Bill, Real Estate builders in India
[...] Buying land in India will be tough [...]