Land Acquisition Bill will help economical use of land: PC
Aug 30, 2013
Source : The Economic Times

 

DELHI: The Land Acquisition Bill will help in economical use of land which is a scarce commodity in the country, government today said.

Ruling out any adverse impact of the Land Bill and the Food Bill on financial markets, government said the two legislations have been debated upon for months and was factored in by the markets.

"People will now realise land is a scarce commodity and it must be economically used," Finance Minister P Chidambaram said after the Cabinet meeting.

He said "we have debated it. We believe that the Land Bill strikes a fair balance and renders a long-denied justice to those who are being deprived of it."

On its huge cost that may affect the market sentiment, Chidambaram said "it is completely wrong to say that the markets are spoofed or the markets are enthused by this Bill. These have been factored in long ago by the markets."

He said the Food Bill and the Land Bill have been there and debated for many months.

"The Food Bill and the Land bill have been in public domain for many many months. These two bills have been debated for many months," the Finance Minister said.

Asked whether the cost of projects will increase many times on account of high land acquisition cost after this Bill, Chidambaram said land as a proportion of project cost is an extremely small cost but will give other benefits like people now economising on land.

On the Food Bill, the minister said the Rs 90,000 crore earmarked during the current fiscal for PDS distribution and Food Security Bill will be enough for the remaining five months of the year.

Latest Realty News

Nitesh Estates launches Rs 300 cr project in Bangalore
Aug 30, 2013
DELHI: Realty firm Nitesh EstatesBSE 3.28 % today launched a housing project, Nitesh British Columbia, in Bangalore with an investment of Rs 300 crore.
Is real estate next in line to collapse?
Aug 29, 2013
DELHI: While the spotlight so far has been on the rupee and the equity markets, real estate prices have started to bear the impact as well. A Business Standard report points out that of the 26 cities surveyed by the National Housing Bank (NHB), as many as 22 including Delhi, Mumbai, Pune, Bangalore and Chennai saw a drop in property prices during the April-June quarter, compared to the first quarter of this calendar year. An all-round squeeze in liquidity and dearth of buyers have led to a fall
No takers for RHB's housing plan for secretariat employees
Aug 29, 2013
JAIPUR: The Rajasthan Housing Board's (RHB) residential scheme for secretariat employees launched by chief minister AshokGehlot failed to attract any takers as only three per cent application forms were received against the 1,000 proposed flats.
Rajasthan Housing Board funds to bail out municipal corporations
Aug 29, 2013
JAIPUR: Looking at the weak financial condition of the municipal corporations, urban development and housing (UDH) minister Shanti Dhariwal on Wednesday directed the Rajasthan Housing Board (RHB) to transfer funds for undertaking road repair and construction.
Only 13% houses built under integrated housing plan: CAG
Aug 29, 2013
JAIPUR: Major loopholes have been observed by the CAG in implementation of the Integrated Housing and Slum Development Programme (IHSDP) by the Rajasthan government. The state could utilize only 22% of the funds of the programme resulting in construction of only 13% of the targeted houses.
Biswabhushan Harichandan|Odisha Jami Adhikar Manch
Aug 29, 2013
BHUBANESWAR: At a time when the state is acquiring land for major industrial projects amid widespread protests, there are more than five lakh people in the state who don't have a place of their own to live in.
Builders frown on decision to stop conditional approval
Aug 29, 2013
BHUBANESWAR: Real estate developers on Wednesday sharply reacted to Bhubaneswar Development Authority's (BDA's) decision to do away with "conditional approval" of building plans of high-rises before such projects get clearances from various other agencies such as fire department, Bhubaneswar Municipal Corporation (BMC) and Airports Authority of India (AAI).
CREDAI forms five sub-chapters for speedy resolve of buyers’ complaints
Aug 29, 2013
DELHI: To facilitate quicker redressal of buyer’s complaints, the NCR body of Confederation of Real Estate Developers Association of India (CREDAI-NCR) recently formed five sub-chapters.
Two months hence, Gurgaon govt yet to revise house tax
Aug 29, 2013
DELHI: Weeks past the deadline now, the property tax revision scheme – being prepared by a special committee constituted by the state government – is yet to be implemented. According to officials of the Municipal Corporation of Gurgaon, there haven’t yet been any updates from the authorities on this matter, and no clarity on whether a timeline is going to be followed at all.
RNE is fast developing area for affordable housing in Delhi-NCR
Aug 29, 2013
DELHI: After Greater Noida West (Noida Extension), Raj Nagar Extension (RNE) on NH-58, under the jurisdiction of Ghaziabad, is developing as one of the most affordable destinations for middle-class homebuyers.

Latest Realty News Of State

Realty Talk's