« DLF lowers price for residential project in Chennai | Home | GHMC clears doubts on Compulsory Disclosure Scheme »
State to retain land Act beyond deadline
Posted by Srini Uppala | January 11, 2008 | 314 views
(No Ratings Yet)
Loading ...The state government is not planning to repeal the Urban Land Ceiling Act in a hurry though it had promised the Centre to do it by March. Instead, it will launch a massive regularisation drive targeting government and assigned lands to bring in crores of rupees to the state coffers. The drive will cover about 25,000 acres in the city and surroundings.
Sources said that the chief secretary, Mr J. Harinarayana, cleared the regularisation drive with the nod of the law department. The Chief Minister, Dr Y.S. Rajasekhar Reddy, is very keen on it and will soon convene a meeting to finalise the regularisation charges. “He wants to fix high rates as in the case of building penalisation scheme, but officials have warned that it might spoil the initiative,” sources said.
The government had agreed to do away with the Act by March 2008 to get funds under the Jawaharlal Nehru National Urban Renewal Mission. But it has other ideas now.
Dr Reddy feels that the regularisation drive and the ongoing building penalisation scheme will bring in copious funds. A similar drive taken up under GO Ms 455 and 456 a few years ago brought in much revenue. However, there are fears that some Congress leaders may use the regularisation programme to fatten their purses. They are already known to be arm-twisting some land holders.
“The stakes involved are high since the average land price is Rs 4 crore per acre,” said a source in ULC Special Officer’s wing. The process of determining surplus lands has already been completed in about 6.500 acres and those who possess them would have to mandatorily regularise it. The government has also issued a notification declaring that the land is under its possession. In the case of the other 18,500 acres, the process of identification of surplus lands is still on. “The government will lose its stakes in this land if the Act is repealed,” said the source.
SOURCES:
Deccan Chronicle
Topics: Property Matters, Govt In Action, Real Estate |
Comments
You must be logged in to post a comment.