Punjab govt notifies new land acquisition policy

The policy promises to benefit rural landowners.

PANAJI: The state government on Tuesday notified a new land acquisition policy to acquire land for public projects on priority basis. The policy promises to benefit rural landowners.

This policy, notified under the Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act, 2013, provides for procurement of land by way of a deed of conveyance.

The entitlement of the owner of the acquired land shall be protected by providing adequate consideration as deserved by the owner, said revenue secretary Sudhir Mahajan.

The market value of land to be procured will be determined by the land rates notified under the Stamp Act as in force in Goa, under sub-rule (3) of rule 4 of the Goa Stamp (Determination of True Market Value of Property) Rules, 2003, without any remission or rebate over the notified rates.

If the government acquires land in a rural area at a government-notified price, the government will pay the landowner the same amount multiplied by two, plus an additional amount of 100% of the government notified price. Additionally, interest of 12% will be paid on the amount from the date of consent till the time payment is made and sale deed executed. Urban land acquisition will be done as per the market price notified by the government.

Valuation of standing structures in land to be procured will be assessed and included in the consideration. Valuation will be carried out by the Public Works Department. Valuation of standing crop or trees will be assessed by the Directorate of Agriculture or Forest Department.

“The owner of the land can either opt for the consideration or avail benefits in kind, said Mahajan. “Such benefits may include grant of a shop or other single business unit for self-sustenance by the owner, or proportionate increase in FAR to the extent the land lost.”

If a house is lost for procuring any land under this policy, a constructed house shall be provided by the Requiring Department to the affected families. The size of the house shall be equal to the house lost by the families and same shall be made available in the close vicinity of the house lost. Close vicinity shall mean within a radius of 1 to 5 km from the land procured. The house can be accommodated either within the procured area itself or on any other land belonging to the government in the vicinity. The government’s decision in this regard will be final.

Source: http://realty.economictimes.indiatimes.com/news/regulatory/punjab-govt-notifies-new-land-acquisition-policy/52530562

 

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