UP policy allows farmer to be realty project partner
According to the new policy, real estate developers can partner farmers to develop projects under this scheme
Sep 22, 2014
Source : The Times of India
Ghaziabad Development Authority

 

GHAZIABAD: At a time when issues over land acquisition have stalled several infrastructure projects across the country, the UP government has included certain provisions to its Integrated Township Scheme which are expected to benefit both developers and farmers.

According to the new policy, real estate developers can partner farmers to develop projects under this scheme. They can sign mutually beneficial agreements that fix ratios of their partnership in projects.

The proposal had been sent by GDA to the state government as part of suggestions for changes to be made in the Integrated Township Scheme of 2005.

Though existing projects that are in advanced stages of development will not immediately benefit from the changes, new projects to be undertaken under the scheme are expected to avoid legal hurdles over land acquisition, if farmers partner realtors.

"This policy is a win-win situation for land-owners and developers alike. It ensures development of all stakeholders concerned. Besides, it will give an impetus to developmental works the authority plans to undertake," said Santosh Yadav, vice-chairman, Ghaziabad Development Authority (GDA).

GDA officials said partnership in developing projects had been a long-standing demand of both farmers and developers.

The registration process for obtaining licences to develop projects has been done away with completely. Builders can now directly apply for licences after submitting proof of their financial and technical strengths.

Officials said developers, who, in their partnership agreements with farmers, can prove they possess over 25% of the total land required for the project, will be given licences even if they are unable to produce sale deeds for the entire land they claim to possess.

GDA officials further said more clarity regarding datelines vis-a-vis licences for projects has been brought about in the new policy.

The new set of policies require developers to approve DPRs of proposed projects within three years of having issued the licences, while layouts of projects have to be mandatorily approved within four years.

Timelines for completion of projects would be finalized by the authority depending on the size of the township.

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