Positive steps are expected to be taken by the government in matters of land acquisition
The real estate sector has started to have some expectations from the new government. They are in the hope that some of the strict conditions in the Land Acquisition Act will be eased soon. The issue of acquiring land has been quite a craze for the industries. Several new projects haven’t been started yet since permission is required for land acquisition.
The real estate developers are hoping that the new government in power will speed up the process of granting regulatory approvals. One of the major problems associated among projects have been a lag towards approvals. Apart from Gujarat, most of the housing projects all across the country have feeble approval processes.
The Bharatiya Janata Party had also mentioned in its manifesto that a ‘National Land Use Policy’ will be adopted. This will take a close look at the acquisition of land which is non-cultivable as well as its development. According to Sunil Mantri, President, National Real Estate Development Council, Modi’s government has played an important role in matters of infrastructure development and any step taken towards simplification will have a good effect on the real estate sector which is struggling desperately at the moment.
Source: Ramnath Subbu
expectations from the new government, land acquisition, Land Acquisition Act, Modi’s government, National land use policy, National Real Estate Development Council, New government
