The rates of land acquisition might triple
According to recent news, there is a huge possibility that the rates of land possession may increase soon for all the farmers of Delhi. This will increase threefold- from Rupees 56 lakhs an acre to Rupees 1.5 crore an acre. It could also go up to 3 crore. This will occur only if the revenue department approves of the proposal.
One of the officials has also mentioned that the aim is to minimising the resistance of the owner towards land taking over governmental projects. This also consists of five sub cities that were framed and decided upon 7 years ago for meeting all the needs of the houses in the upcoming ten years.
A senior revenue department official said during his statements that one of the most important reasons for increasing the rates of land possession would be that the present rate of Rupees 56 lakh per acre is quite low as compared to the current rates prevailing at the market.
Once the proposal has been accepted, there are possibilities that it will also begin to check use of the unaccustomed money during land deals which happens to be a valid source of loss of revenue to the government.
Source – Rahul Chhabra, New Delhi
Government projects, land acquisition, Land Acquisition Act, land acquisition rates, Noida Land acquisition, Petitions against land acquisition withdrawn
