Land Bill: Time needed to acquire land will increase significantly, cost will go up six-seven fold

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SummaryCurrent Land Bill is something industry is eagerly waiting for but has reservations on several clauses.

of unutilised land has been reduced to five years from 10 years in the Bill. Now in case of infrastructure projects like industrial corridors the project does not take off before five years because of problems in clearances. So what is the definition of ‘unutilised’ needs clarity and also five years could be a small time period for many infrastructure projects depending upon the definition adopted for unutilised land.

There’s a provision that if the buyer sells to a third party, then 40% of the appreciated value needs to be shared with the original owners. Is this acceptable to industry?

This comes on top of the increased R&R and compensation amount to be paid and will create problems in tracing the original land owners after some years.

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