India Inc unhappy with land bill
India Inc is unhappy with the Land Acquisition Rehabilitation and Resettlement Bill 2011 cleared by the Group of Ministers (GoM) fearing that projects costs may soar due to high land price, and cumbersome acquisition procedures.
Rajeev Talwar, executive director of DLF said the Bill could affect business badly adding that projects costs will soar if the land prices rise and many developers will not be able to afford resettlement and rehabilitation.
The Bill proposes that minimum compensation of the land should be four times the market value in rural areas and in urban areas it should be two times the market value.
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