Land Acquisition Bill and government policies

Union government has approved new land policy which can lead to increase in gap between the supply and demand. The real estate companies have paid compensation to the government and the rate of sales has also increased. The cost of setting up industries has gone up in last three years. The projects related to infrastructure and townships have also been affected by this new policy. This bill is likely to upset the middle class people as it will badly hit the real estate sector and development in the urban areas.

If have a practical look at the proposed bill it can be clearly observed that the bill will end the dreams of middle class of housing that is affordable to them. The old bill of land acquisition is about 117 years old and the new bill will replace this old bill. The new bill states that private real estate companies have to provide rehabilitation to the people who are displaced from their land. There are lot of questions and confusions regarding the new bill introduced in the parliament. CII has shown their concern over Land Acquisition Bill’s value set. The chairman of ASSOCHAM, Mr Navin Raheja has suggested that there should be debate amongst the stakeholders including the media too in order to make a way that is pragmatic.