Impact of land acquisition bill on the real estate scenario in India Higher cost of land acquisition & overall real estate cost The provisions of the Bill will be applicable in cases of land acquisition of 50 acres in urban areas or 100 acres in rural areas. The compensation for land acquisition will now at least double in urban areas and will go up by 4 times in rural areas, according to the new LARR guidelines. Impact on infrastructure & urbanization Further, the clause of mandatory consent of 80% of owners for private projects and consent of 70% landowners for PPP projects will delay the process of land acquisition and the projects in turn.
Posted on: Sat, 28 Sep 2013 11:16:57 +0000