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Realty Sector opposes draconian new Land Acquisition law Draft

Postby dheerajjain » Thu Sep 08, 2011 11:17 am

Realty sector is opposing draconian new Land Acquisition Law draft which has provision of including even private land. Surprisingly, political parties are silent. It exposes their vote bank politics of appeasing farmers.

Read more:

Economic Times, Sept 6, 2011

http://articles.economictimes.indiatime ... draft-bill

NEW DELHI: The Union Cabinet on Monday cleared a new land acquisition law that tries to bridge the gaps in existing legislation. Popular protests against governments acquiring land for private projects have spread across the country and toppled a 35-year-old Left government in Bengal.

The Congress hopes to gain some political mileage from the new law and deflect accusations of policy drift. Industry, however, was less than enthusiastic about the new law.

"It is disastrous. If private land is bought under this act, be sure that very little land can be developed. There are too many points of conflict. It is an absolutely mindless idea to bring private land acquisition under this act," said Lalit Kumar Jain, national president of the Confederation of Real Estate Developers' Associations of India (Credai).

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