According to sources it is said that the new land policy announced by Union Cabinet of India could lead to a big gap between demand and supply.
The first result of this policy may bring the the disparity in Paying compensation that would be four times the highest amount of registered sale in the area in last three years is only going to raise the cost of setting up the industrial establishments, infrastructural projects and townships, believe real estate firms.If the said bill is passed in its form as it is proposed, it will definitely hurt the realty sector and urban development, apart from ending the dreams of affordable housing for the middle class Areas.
Indeed, this new bill, meant to substitute the 117-year-old Land Acquisition Bill of 1894, which has been introduced in Parliament, will mean private companies will have to give relief and rehabilitation packages to displaced people even if they directly buy land from landowners, for all negotiations over 50 acres in urban areas and 100 acres in rural sectors.
