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

50 booked for defacement of public property
Jan 25, 2014
AURANGABAD: As many as 50 people were booked by the Jawahar Nagar and Osmanpura police on late Thursday night in three different cases of unlawful assembly, rioting and defacement of public property. Police said tension prevailed at Shahnoormiya Dargah Chowk area after the three different groups tried to install flags and rename the newly constructed Sangramnagar Railway overbridge.
250 new properties found evading property tax
Jan 25, 2014
KOLHAPUR: The civic body has found 250 new property owners to be evading taxes. They have not registered with the Kolhapur Municipal Corporation's property tax department.
Small businesses too need quality office space
Jan 25, 2014
MUMBAI: The country is abuzz with several entrepreneurial ventures. Every entrepreneur looking to start a new venture, or expand a fast-growing one, is on the lookout for office space, preferably in a business centre with coffee shops and restaurants.
MIDC to acquire 222 hectares in Yeola, Malegaon by March
Jan 25, 2014
NASHIK: The state industrial development corporation is all set to acquire 222 hectares of land in Malegaon and Yeola talukas of Nashik district by March.
Cidco plans to spread its devpt activities beyond Thane city
Jan 25, 2014
THANE: The state-owned City and Industrial Development Corporation (Cidco) has proposed to develop many regions in Thane district as mega-cities, Cidco chairman Pramod Hindurao has said.
Tricks of trade land builders in dock, HC sends notices
Jan 25, 2014
MUMBAI: Acting suo motu, the Bombay High Court converted into PIL a letter written to it by an activist alleging illegalities in the sale of flats in Mumbai and Thane and issued notices to the state government, civic administration, income tax authorities and some of the leading developers in the city.
Bhiwandi is coming up with affordable housing
Jan 25, 2014
MUMBAI: Rohit Sheshadri, working in a software company in Thane had been searching for a flat around Thane area. After doing extensive research, he finalised a flat in Bhiwandi. Sheshadri said, “The rate which I got in Bhiwandi was even lower than my budget. Also, as the project was near the highway I am not facing any commuting problems. Bhiwandi is a town only 20 kilometres away from Thane which is now rapidly growing as a destination for homebuyers looking for budget homes.
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.

Latest Realty News Of State

Realty Talk's