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The New Law will boot out Land Acquisition Pessimisms - Dreamz Infra Reviews News
05:37
The upcoming new Land Acquisition Law will smooth and reward the land acquisition process for industrial and infrastructure development projects. This new law has also left with some hesitations in the infrastructure sector that various projects specifically in Bangalore City may get delayed in completion and the cost of the project many raise due to the increase in compensation costs.
According to the new law, The Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act of 20103 that is directed by stringent standards, the land owners should be given higher compensation. The new Act says that in case of public-private partnership projects, the government agencies should obtain the agreement of 70 per cent of land owners and should pay the land owner double the compensation that is twice more than the market value. The law also guides to take steps in effect for relocation and rehabilitation.
But one of the veterans says that the new law will surely increase the project cost and there will be less differences and disagreements if the compensation cost is fair in the land acquisition process.
Agencies that have taken up infrastructure projects are preparing themselves to face the outcome of the new law. Among such are the BMRC, which has planned to obtain land of 100 hectares for Phase-2 of Namma Metro and BDA has projected to obtain 1, 900 acres for its peripheral ring road (PRR) project and 50, 000 acres for developing new layouts.
One of the BDA officials said that the new law will toughen the land acquisition prices ad could delay in the completion of the projects.
BMRC looks like as it is ready to face the challenges of the new law and has altered some of it plans to reduce the acquisition of land for Phase-2 of Namma Metro and has projected for 1, 000 properties across 100 hectares of land for the 72 km project.
One of the BMRC officials says that the acquisition of land will be constrained only for the construction of flyovers and stations. There is also a plan to build a 2-level elevated stations in place of 3-level stations as built in the Phase-1 and this idea to cut down the project cost as well as the reduce the land requirement.
The managing director of BMTC says with the upcoming new law they have decided to obtain less land than 100 hectares for Phase-2 and to make sure that the project is finished in the mentioned time.
But one of the veterans says that the new law will surely increase the project cost and there will be less differences and disagreements if the compensation cost is fair in the land acquisition process.
Agencies that have taken up infrastructure projects are preparing themselves to face the outcome of the new law. Among such are the BMRC, which has planned to obtain land of 100 hectares for Phase-2 of Namma Metro and BDA has projected to obtain 1, 900 acres for its peripheral ring road (PRR) project and 50, 000 acres for developing new layouts.
One of the BDA officials said that the new law will toughen the land acquisition prices ad could delay in the completion of the projects.
BMRC looks like as it is ready to face the challenges of the new law and has altered some of it plans to reduce the acquisition of land for Phase-2 of Namma Metro and has projected for 1, 000 properties across 100 hectares of land for the 72 km project.
One of the BMRC officials says that the acquisition of land will be constrained only for the construction of flyovers and stations. There is also a plan to build a 2-level elevated stations in place of 3-level stations as built in the Phase-1 and this idea to cut down the project cost as well as the reduce the land requirement.
The managing director of BMTC says with the upcoming new law they have decided to obtain less land than 100 hectares for Phase-2 and to make sure that the project is finished in the mentioned time.
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14 comments
A very good move from the BMTC.
ReplyDeleteThis will be very difficult to implement. Let us see how the BMTC come out from this issue
ReplyDeleteYes, Tharan it will be a difficult task for BMTC. Hope they can overcome from this.
DeleteVery good information. May be with this law the corruption in Real estate may come down.
ReplyDeleteThank you All, for Your Valuable Comments on ADreamz-Infra-Reviews Blog Post.
ReplyDeleteVery valuable information... Thanks for sharing this alwin.
ReplyDeleteMay be with this new law the apartment prices will rise up again as mentioned in this blog.
ReplyDeleteYes, the apartment prices may rise up but the corruption in real estate will come down.
DeleteIt is mentioned that this law is only applicable for Flyovers and Stations. Is it true?
ReplyDeleteIs it not applicable to residential projects.
Clearly Explained here about this ACT. Thanks for the information.
ReplyDeleteA very good brief explanation on this topic. But this law should be applicable to residential apartments also. then there will be a chance of reduction in the apartment prices in Bangalore.
ReplyDeleteDefinitely with this law lot of fake builders will come out from Real Estate as well as the apartment prices also raise up by the branded builders.
ReplyDeleteNow the govt. Has changed. Strict implementation of this law should be needed. Hope they may implement this properly.
ReplyDeleteThis law should come out from the papers and it should be implemented from the bottom level as well. Expecting this will be implemented in the coming years. As lot of black money is circulating in the real estate sector only.
ReplyDelete