Land Acquisition Bill
The Centre and States have agreed to revise the provisions of the Land Acquisition Bill after considering the concerns of industry. State Chief Secretaries and Principal Industry Secretaries have met and arrived at a consensus that provisions in the Bill need to be reworked to boost manufacturing sector. The crucial issues where emphasis is to [...] Continue Reading »
There has been an effort to regulate the real estate sector in India. The recent bills such as Land Acquisition, Rehabilitation and Resettlement Bill, 2011 and Draft Real Estate Bill, 2011 are testimony to that effort. While, the need to regulate the sector has been discussed at length, there are fears that the bills may [...] Continue Reading »
The Federation of Indian Chambers of Commerce and Industry (FICCI) has expressed concern over high rehabilitation and resettlement (R&R) cost to be incurred by industry in the proposed Land Acquisition Bill. FICCI has asked the government to make changes in the provision stating that current R&R provisions of the bill will put an unfavorable burden [...] Continue Reading »
Unitech, a New Delhi-based real estate developer, has expressed apprehension about various regulatory measures to be taken up to regulate real estate industry. He stated that various bills related to land and real estate sector may impact the sector’s growth if proper balance is not maintained between the various stakeholders’ interests. Land Acquisition, Rehabilitation and [...] Continue Reading »
Indian real estate companies seem to take a hit due to imposition of VAT in Maharashtra. The shares of most big players dropped for a second day as confusion kept arousing about who would end up paying a proposed retrospective value-added-tax(VAT) from the state of Maharashtra. The drop was caused by worries about a stringent [...] Continue Reading »
Activists led by Narmada Bachao Andolan leader Medha Patkar have alleged that the much anticipated Land Acquisition Bill was actually a “diluted version” of the Standing Committee’s recommended bill. The activists under the aegis of National Alliance of People’s Movements and Sangharsh claimed that the strong position taken by the Standing Committee had been diluted [...] Continue Reading »
The pool of ministers in Haryana is soon to introduce a land pool scheme for land acquired by state agencies. The new move comes in the wake of complaints raised by the landowners of receiving inadequate compensation by the government As per the new initiative from government the landowner whose land is acquired for the [...] Continue Reading »
Cost of residential properties in NCR will increase by 50 percent as land would become costlier once Parliament passes the proposed Land Acquisition Bill. Under the proposed Bill, the development authorities would be forced to hike the land rates substantially. As a result, the prices of janta flats, two, three and four bed room apartments [...] Continue Reading »
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 [...] Continue Reading »
The National Real Estate Development Council opposed the Land Acquisition Bill saying it should not be applicable to private builders as it will impact development of infrastructure across the country. The builders group feels that the suggestion by the Parliamentary committee will impact the infrastructure, industrial and township development program in the country. Setting tough [...] Continue Reading »
