Land development: Need for government’s role change
Jan 27, 2014
Source : The Times of India

 

DELHI: In a developing culture, there is a need for land development, which focuses primarily on converting the pre-existing land into something useful. For example, for converting semi-natural estates, such as factories, into livable spaces, such as condominiums, changes in certain land reforms are needed.

One of the most powerful tools that a government has to mediate in land markets is land development. A government has two options for its involvement: it can either develop land itself or it can promote land development through the private sector. Experience has shown that direct government development of land has not been very effective. Long delays due to technical actions, poor quality of construction and lack of coordination between different agencies have been some of the reasons for the inefficiency of governments in land development. Delays in providing serviced land increase rather than decrease market distortions.

In a market economy, the government’s role should not be to provide goods and services but rather to enable or facilitate other actors, be they commercial or community-based, to be the providers. Government should reserve its intervention in regulating the market to ensure that it is competitive, sustainable and reasonable.

A land readjustment scheme is typically initiated by the municipal authority or the national government, designating an area which is about to be converted from agricultural to urban land use. A subdivision plan is developed for a unified planning of the area. Provision of infrastructure and services is financed by the sale of some of the plots within the area, often for commercial activities. The original landowners are provided plots within the reshaped area which, although smaller in size, now have access to infrastructure and services.

Coordination of land development policies between municipalities and country governments, urban growth boundaries and infilling urban land redevelopment, resource land tax deferrals and right-to-farm legislation are all management techniques designed to reduce land speculation and land conversion. While each state approaches land management issues differently as per their respective legislative standpoints, they are mostly responding with a commonality of purpose.

Thus, land-development is an imperative part of the real-estate and with land development, one can make beneficial use of the existing land.

Latest Realty News

Supertech to raise Rs 1,000 cr through PE this year
Jan 27, 2014
DELHI: Realty firm Supertech plans to raise Rs 1,000 crore this year through private equity to fund ongoing projects and is in discussions with a few firms.
Gaursons to invest Rs 5,000 crore on township on Yamuna Expressway
Jan 26, 2014
DELHI: Realty firm Gaursons will invest Rs 5,000 crore over the next four years to develop a township on the 300-acres land that it bought from Jaypee Group on the Yamuna Expressway in Greater Noida.
Land development: Need for government’s role change
Jan 25, 2014
DELHI: In a developing culture, there is a need for land development, which focuses primarily on converting the pre-existing land into something useful. For example, for converting semi-natural estates, such as factories, into livable spaces, such as condominiums, changes in certain land reforms are needed.
Noida-Gr Noida Expressway: A hotspot for commercial reality
Jan 23, 2014
DELHI: Noida-Greater Noida Expressway, which further connects to the 165km-long Yamuna Expressway, is still a favourite destination for commercial realty projects. Improving infrastructural development and fast connectivity offer great scope for real estate development here and the area is coming alive with luxury hotels, office space, retail outlets, and shopping malls.
Business falling brick by brick for Noida demolitioners with rising cost and competition
Jan 23, 2014
NOIDA: With the overall real estate activities seeing a low in the Delhi-NCR region, many Noida-based building demolition contractors are also feeling the heat. The standalone demolishers stated declining business, spike in the running cost and competitive market to be primary reasons.
Residents protest for ‘free-hold’ land in Noida
Jan 23, 2014
NOIDA: Hundreds of residents took to streets on Wednesday demanding 'free-hold' status on their properties against 'lease-hold' as of now. The protesters gathered outside the Sector 6 office of Noida Authority as the deadline given by the Federation of Noida RWAs (FONRWA) for conversion of land rights expired on January 15.
Conman arrested in Noida Phase-II
Jan 23, 2014
NOIDA: A person was arrested in Noida Phase-II on Wednesday for allegedly duping several people of lakhs of rupees, while his aide is still on the run.
Gurgaon real estate developers expect to recover from slowdown in 2014 with new government at centre
Jan 23, 2014
MUMBAI: The real estate sector, which showed sluggish business during the last year, has a lot of expectation from the year 2014. Though the players in Millennium City admit that they are expecting the growth only after the general elections, scheduled to be held in May, but still they are hopeful that their business will recover and will see new highs this year.
Leela might get more time to complete debt restructuring
Jan 23, 2014
DELHI: Hospitality company Hotel Leelaventure is likely to get an extension for its corporate debt restructuring (CDR) exercise, scheduled to be completed by March.
Tata Housing plans to come up with 5 signature villas in Delhi
Jan 22, 2014
DELHI: Realty major Tata Housing plans to develop a super luxury residential project in the heart of national capital comprising 4-5 expensive villas in a price range of Rs 130-170 crore each.

Latest Realty News Of State

Realty Talk's