New Delhi, Dec 31, 2014
“The decision of the Union Cabinet to take the ordinance route to bring amendments to the Land Acquisition Act is certainly a welcome move for Indian real estate sector. The land acquisition for long has been a concern for industry putting major ongoing projects virtually on hold. The Fast track process will improve land records management in the country and promote transparency in land sales. With the Act promoting seamless movement of projects related to rural infrastructure, electrification, industrial corridors and PPP, the new Act promises fair compensation for the farmers and transparent cost saving procedural for corporate to purchase land. What needs to be seen is how the proposed amendments meet the twin objectives of benefitting farmer as well as the developer.” CCI Newswire
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