Land losers to get more compensation
Dec 11, 2013
Source : The Times of India


HYDERABAD: The Greater Hyderabad Municipal Corporation (GHMC) and other government agencies, which take over private properties for various purposes, will have to cough up more compensation for acquiring properties from January 1, 2014.

Though property owners can cheer about the new Land Acquisition Bill which will come into force from January 1, the civic body and other departments have to shell out more compensation to the property owners. GHMC has been spending about Rs 300 crore every year on acquisition of properties and its bill is likely to increase to Rs 500 crore.

Property owners would be major beneficiaries as they would get more compensation with increase of solatium to 100% from the existing 30%. In simple words, if the compensation is Rs one lakh, the owners would henceforth get Rs one lakh more towards solatium. The other benefit property owners would get is that the compensation has been exempted from income tax. Until now, the authorities used to deduct 10.3% of the compensation amount as income tax and 20.6% if the owner does not have a PAN card or failed to submit it while disbursing the amount. These two factors would benefit the property owners to a great extent, but increase burden on the corporation.

Over 1,500 property owners in the Old City who might lose their valuable land for the metro rail project, 50 owners for construction of Tolichowki flyover and over 100 on Raidurg junction-University of Hyderabad road widening are likely to get more compensation as the land acquisition process is yet to begin. The HMDA has been planning to take up the peripheral ring road (PRR) by acquiring some properties. The land losers are likely to get more compensation compared to Outer Ring Road (ORR) oustees.

Sources said the GHMC has to pass award on 116 properties in Hyderabad district limits and another 174 properties in Rangareddy district for various works and all these owners might get better compensation packages.

Over 1,000 properties, on an average, would be acquired every year by the GHMC for expansion of roads, construction of flyovers, remodeling of nalas and other purposes. Other government departments like Hyderabad Metro Rail (HMR) and Hyderabad Metropolitan Development Authority (HMDA) acquire properties for metro rail project and radial roads.

To avoid delays and legal problems, most properties were being taken over by taking consent from the owners and only 20% to 30% were taken over by invoking the Land Acquisition Act, where property owners refused to part their properties.

Officials said any government organization has to think twice before mooting any proposal of land acquisition. The department proposing land acquisition has to get a social impact study done on whether the acquisition is inevitable or not and, if necessary, impact of such move. If necessary, environmental impact study has to be done by the authority.

GHMC officials said there was no clarity on issues like whether social impact study was required for even road widening and increase of solatium should be applicable in consent case as the owners get compensation as per prevailing market rates, while the Act says only highest registration rates (government value) in the area in the past three years. It is also unclear whether the new rules would be applicable to the draft notifications.

When contacted, GHMC land acquisition officer N Suryakala has admitted that the new Land Acquisition Act would further drain the corporation. The bill details and clarity on some issues would be known after the revenue department issues an order on implementation of the new bill, she added.

Latest Realty News

Land losers to get more compensation
Dec 11, 2013
HYDERABAD: The Greater Hyderabad Municipal Corporation (GHMC) and other government agencies, which take over private properties for various purposes, will have to cough up more compensation for acquiring properties from January 1, 2014.
1.5 Lakh Commercial Units Have No Trade Licences
Dec 10, 2013
HYDERABAD: It may sound unbelievable but it is a fact. As many as 1,56,890 commercial establishments in the twin cities are running without trade licence and another 22,220, instead of being in the commercial tax net, are in residential property tax net.
Housing board plans houses on hire purchase
Dec 09, 2013
HYDERABAD: After nearly two decades, the Andhra Pradesh Housing Board (APHB) has decided to take up special housing scheme for the benefit of low income groups. The new housing schemes are being taken up at Kukatpally, Chandanagar, Nizampet, Bandlaguda and Red Hills in the city apart from other locations in the state.
Neighbours' pride, Greater Hyderabad Municipal Corporation's joy
Dec 09, 2013
HYDERABAD: In a bid to curb unauthorized constructions, the Greater Hyderabad Municipal Corporation (GHMC) has decided to provide copies of sanctioned building plans to neighbours of building applicants.
Uppal land losers to get developed plots soon
Dec 09, 2013
HYDERABAD: Nearly six years after their land was acquired, affected property owners of Uppal Bhagat will get developed plots soon. The Hyderabad Metropolitan Development Authority (HMDA) has decided to allot plots on lottery basis in a couple of weeks
28 property owners get notices
Dec 09, 2013
HYDERABAD: The cantonment authorities have served notices on 28 property owners in Langar Hauz after revenue officials discovered that their properties stand on defence land.
PE investments in realty up 26% this year
Dec 06, 2013
HYDERABAD: The value of private equity (PE) transactions in the country’s real estate sector during the first nine months of 2013 was up 26 per cent at Rs 4,716 crore, indicating that funds continue to see India as a an investment destination despite a slowdown in the local market.
Villas on Hyderabad ORR attract home buyers
Dec 03, 2013
HYDERABAD: The 159 Kms long stretch of the Outer Ring Road (ORR) is a road-cumarea development project. The ORR connects Patancheru-Shamshabad-Hayathnagar-Medchal Patancheru, and also provides the connectivity to various State Highways and National Highways.
Are you paying more for your flat maintenance?
Dec 03, 2013
HYDERABAD: The rising prices and shrinking options are now quietly getting accepted by people, as they seem to give up now. The hole in the pocket is growing bigger and bigger everyday. No matter how much you earn, the impact is felt by everyone.
Elevate brings marquee brands under one roof
Dec 03, 2013
HYDERABAD: That luxury comes at a price is amply demonstrated at Elevate, a one-stop designer hub for furniture and kitchens.

Latest Realty News Of State

Realty Talk's