Real fact about Land Acquisition Bill

The Lok Sabha recently passed the right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act with 9 modifications, the property market is ready for detailed discussion whether or not the industry would get a much required lift, reported Amarprakash Royal Castle review. Although, the bill has been in the planning stage in the Rajya Sabha, the trend watchers said that once the bill gets approved, it will support the start up of infrastructure projects. It’ll conjointly speed up the development of affordable housing sector across the country.

As per the newly planned bill, the special 5 categories that are stated in the Act would include cheap housing and infrastructure projects. The projects defined in these groups won’t need the agreement from the side of farmer before taking over the land, regardless of the project possession. It is a well-known acknowledgement that acquisition of land from the farmers’ takes utmost time within the development of entire project and completion cycle which raise the operational amount. The rental worth of machines and therefore the price of resources increases over an amount of time as a result the promoters increase the value of the abodes that ultimately leads the consumers to additional housing units.

As per the words of real estate experts in Chennai, The order can finally change the law that had stalled the manufacturing products and resulted in poor economic growth of the nation. It’ll enable corporations to shop for plots effortlessly. This may also improve many billions of dollars that is stuck with delayed projects. While property bodies conjointly united to the fact that the bill can surely play an essential role in attaining the said motto of ‘Homes for All by 2022’. Exception to cheap Housing sector from the unfeasible provisions of Right to Fair Compensation and Transparency in Land Acquisition Act, 2013 highlights the main focus of the Mission to produce ‘Abodes for All by 2022’. As per the estimation, about 1.7 to 2 lacs hectares of plot is needed for the development of urban housing. This process has to be carried out with ease & fastest in process is needed, said the chairman of NAREDCO (National Real Estate Development Council). The government is not in mood to submit the bill within next six months, Land Acquisition Bill would soon be in reality, if and only the Rajya Sabha passes the bill. This can be done by getting huge number of votes among the members.

Look into the resettlement areas of Chennai

In the recent meeting, the officials of the Tamil Nadu government have decided to develop Satellite Township in the state. Soon, as per the decision, the satellite township would be developed at Thirumazhisai covering around 311.06 acres of total land space in the nearby villages such as Vellavedu, Parvatharajapuram, Chembarambakkam, Narasingapuram and Kuthambakkam. Once, the project is established the economic status of the state would increase highly because developments are needed all over the state. In south Chennai, already developments took place resulting in no space for Amarprakash builders frauds.

The state government has planned this township project to provide resettlement for the residents who are evicted because of development of various infrastructure projects. That means, the government has seized the land and home of many people, if the assets are needed for developing infrastructure projects. In the proposal of satellite township, construction of apartments covering an area size of 400 sq.ft each is included at a total cost of Rs.2160 crore. This would be raised on the land that is owned by the TNHB (Tamil Nadu Housing Board). In 2011, the formerly Chief Minister J.Jayalalitha has announced the launch of this project on Chennai-Bangalore National Highway.

The design of infrastructure project has been worked out by the officials at Anna University and laying of the road and acquiring land for the tar road is in progress and this duty is taken by the National Highway department. In the western regions of the metro, a number of violations, especially slum clearness are set to be removed for the betterment of canals, footpaths, roads and other civic projects. The residents belonging to slum areas has demanded the Chennai civic body to offer alternative homes near by their existing houses. But, the officials of the civic body said it is difficult to provide homes near to their property. Already, the Corporation is facing trouble from the side of residents who have been relocated to Perumbakkam and Kannagi Nagar since these locations are far away from their earlier accommodation.

By May 2015, a total of 1,025 abodes in Gudapakkam that is in proximity of Thirumazhisai soon will be ready. The civic body has planned to move a mass number of people to these locations. People who are staying in the western regions of the city prefer this alternative location since it is close to their previous home. Before the start of 2016, a list of beneficiaries would be included in the Gudapakkam scheme.