Land development: Need for government’s role change
Jan 25, 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

Investors turn to realty as gold loses sheen after curbs
Jan 25, 2014
MUMBAI: The government's efforts in the past few months to curtail gold demand may have come as a saving grace for the real estate sector. For months, realty had been going through a slump in the country with high prices keeping the end-user demand low. As the government's efforts to moderate gold demand through import duties and other stricter norms began around July, investors and speculators shifted their focus from the yellow metal to real estate, said a report by India Ratings, the Indian a
CREDAI welcomes rationalisation of property valuations
Jan 25, 2014
KOLKATA: The Confederation of Real Estate Developers' Associations of India (CREDAI) today welcomed the West Bengal government's move to rationalise property valuations.
ED takes possession of Koda aides' properties
Jan 24, 2014
JAMSHEDPUR: An Enforcement Directorate team on Wednesday took possession of properties owned by two associates of former chief minister Madhu Koda.
Owner sells off Mumbai property seized by CBI
Jan 24, 2014
MUMBAI: A flat under investigation by the CBI in a Rs 578 core chit fund scam has been sold despite the agency informing the society office-bearers about the probe and seizing the property-related documents.
Hyd Metro eyes 55% revenues from real estate
Jan 24, 2014
HYDERABAD: L&T Metro Rail (Hyderabad), a special purpose vehicle incorporated to execute the elevated metro rail project in Hyderabad, expects 50-55 per cent of its revenues coming in from real estate and the rest from ridership in the initial years, according to chief executive officer and managing director Vivek B Gadgil.
Investors turn to realty as gold loses sheen after curbs
Jan 24, 2014
MUMBAI: The government's efforts in the past few months to curtail gold demand may have come as a saving grace for the real estate sector. For months, realty had been going through a slump in the country with high prices keeping the end-user demand low. As the government's efforts to moderate gold demand through import duties and other stricter norms began around July, investors and speculators shifted their focus from the yellow metal to real estate, said a report by India Ratings, the Indian a
Organised Retail Estate Space Grows by 78 Per Cent
Jan 24, 2014
MUMBAI: Despite the slowdown, malls are mushrooming in different parts of the country especially smaller cities. The total organised retail supply in 2013 stood at approximately 4.7 million sq. ft., a year on year growth of about 78%, over the total mall supply of 2.5 million sq. ft. in 2012, said a report by international real estate consultants CBRE.
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.
Inner city of Pune needs urban renewal
Jan 23, 2014
PUNE: Pune’s pace of urban growth has been unparalleled, with the increasing number of migrants. This influx has required major infrastructure upgradation on all fronts, including road connectivity, parking facilities, public transport and electricity and water supply. It is also clear that Pune’s growth is not a temporary phenomenon – the city will expand exponentially in the years to come, both, geographically and in scope. If the development authorities do not take a realistic look at what th
Luxury housing finds space in Thane
Jan 23, 2014
MUMBAI: “Luxury projects in Thane? You must be joking. Isn’t the location meant for affordable living of working class?” Well, you may also have had the same reaction in the past if you weren’t tracking the developments in and around Thane’s property market. This region is on a fast forward mode of development and the growth has been both, horizontally and vertical. The fact is that Thane is changing and it is changing fast. Luxury projects which had a stronghold in South Mumbai and Navi Mumbai,

Latest Realty News Of State

Realty Talk's