Land row: Mayawati announces new land acquisition policy

Lucknow:
Uttar Pradesh Chief Minister Mayawati has finally met farmers protesting for greater compensation for land and announced a new land acquisition policy which will come into effect from today.

She though clarified that the new policy will not affect land acquisition in Bhatta-Parsaul.

The chief minister said the private players will have to directly acquire the land and the government will only act as a facilitator.

She further added that farmers will be given 16 per cent of developed land.

Last month, farmers' agitation at Bhatta Parsaul in Greater Noida had turned ugly with four persons, including two farmers and as many cops losing their lives.

Earlier, BSP supremo charged Congress party over fuelling the agitation in Uttar Pradesh when she said, "The Congress was only responsible for the demonstrations by the peasantry."

"We will raise the issue in Parliament for bringing uniform land acquisition policy," Mayawati added while stating her strategy to resolve the land acquisition spat.

The Allahabad High Court on May 30 cancelled the 170 hectare land acquisition in Gulistanpur in Greater Noida. Earlier 100 farmers approached the court seeking justice as the government "forcefully" grabbed the farm lands.

The Mayawati government reportedly acquired the land for private real estate developers. The High Court also asked the state government to pay for any monetary loss to any farmer.

However, the Supreme Court on the same day refused to entertain a petition seeking a CBI enquiry into the alleged excesses and violence unleashed by the Uttar Pradesh government on farmers protesting against "forcible" acquisition of land at Bhatta Parsaul.

Assembly elections are due in Uttar Pradesh in 2012.
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  • Lag gayi waat.
    CommentQuote
  • Originally Posted by sanjeevchaudhri
    Lag gayi waat.


    can you explain how??
    CommentQuote
  • Originally Posted by sanjeevchaudhri
    Lag gayi waat.

    I think its going to be the policy for the further acquisitions ...it will not affect the acquisitions already done
    CommentQuote
  • aaauch.....:-))

    This is how i see it -

    -- Election is the most important thing for BMW and i think she has done the right thing - keeping vote banks happy and morally speaking - Farmers should get proper compenation at market price not "bheek".

    -- Builders will have no choice but buy land directly from farmers ( like haryana). To me they are the worst HIT as they have already paid huge bribes to BMW n her cronies. There profit will take a HIT. Imagine for a builder like mahagun ( moderne) - project is in 25 acres - If he has to pay additional 1cr per acre to farmers - means shelling out 25 crore :-)) that too in one go NOT In Installments over 8 YEARS :-))

    -- End users/Investors - Now builders will try to shift this burden to end users/investors ( legally or illegally) - any means - burden will come ( if not 100% but expect 50-70% )

    Bottom Line - Land will be expensive to procure and as a result flats will be expensive.

    OHHH - now can someone please tell me the status of METRO and now how it will be financied ?

    BB - anyone :-)))))))))))))))))


    Regards
    Sbajaj
    CommentQuote
  • Nobody dies a virg$n ....life f$cks everyone.

    :-)))

    Have fun for the next few months

    Regards
    Sbajaj
    CommentQuote
  • Originally Posted by anubhaviit
    can you explain how??

    1. 16% developed land to be reserved for farmers.
    2. 20% land would be utilized for civic facilities like roads, parks, community center etc.
    3. Remaining 64% would be with the builder but he has to pay the cost of 100% of the land, that too at the rate asked by the farmers.
    4. Till now, Noida/GN Authority has the scheme of 10% initial payment, no principal payment for the next 2 years and 90% principal to be payed in the next 8 years. Builders would now have to arrange for 100% upfront (private loans etc).


    All of the above means that in GN/NE, builders would no longer be able to get land at Rs 10000 per sq meter at very lucrative terms (mentioned in #4 above).

    At least, the effective cost of 64% land at their disposal would be close to Rs 25,000 to Rs 30,000 per sq ft.

    Bet, you would no longer get the rate of Rs 1900 to 2000 per sq ft all inclusive in NE going forward.

    Lag gayi na waat !!!
    CommentQuote
  • Originally Posted by Edge111
    I think its going to be the policy for the further acquisitions ...it will not affect the acquisitions already done

    You are right that it would be for further acquisitions.

    But my dear friend, High Court is slowly and steadily cancelling all the allotments done in NE.

    This means that these land parcels would now come again in the market and builders have to re-bid for them directly from the farmers at very high rate after accounting for 36% misc land use (16% to farmers and 20% for civic amenities) based on the new land acquisition policy announced today by BMW.
    CommentQuote
  • Originally Posted by sbajaj
    aaauch.....:-))

    This is how i see it -

    -- Election is the most important thing for BMW and i think she has done the right thing - keeping vote banks happy and morally speaking - Farmers should get proper compenation at market price not "bheek".

    -- Builders will have no choice but buy land directly from farmers ( like haryana). To me they are the worst HIT as they have already paid huge bribes to BMW n her cronies. There profit will take a HIT. Imagine for a builder like mahagun ( moderne) - project is in 25 acres - If he has to pay additional 1cr per acre to farmers - means shelling out 25 crore :-)) that too in one go NOT In Installments over 8 YEARS :-))

    -- End users/Investors - Now builders will try to shift this burden to end users/investors ( legally or illegally) - any means - burden will come ( if not 100% but expect 50-70% )

    Bottom Line - Land will be expensive to procure and as a result flats will be expensive.

    OHHH - now can someone please tell me the status of METRO and now how it will be financied ?

    BB - anyone :-)))))))))))))))))


    Regards
    Sbajaj


    and what will happen to the land under express way crisscrossing GN, IP, Noida, YEW. will those farmers get market value from builder. development ki lagegi sabse pehale,

    I think its a political move, 80% land is already garbed and 20% maybe sold at market price. some farmers may benefit (which i doubt still) as this policy is applicable for new acquisition.

    like in haryana, undeveloped land will be bought from farmers by builders at bheek+ prices, then area will be notified for residential development , then projects will be launched , high edc will be charged, then with the paltry sum, narrow one time roads and shabby street lights will be installed . then forget rest,
    CommentQuote
  • Originally Posted by Edge111
    I think its going to be the policy for the further acquisitions ...it will not affect the acquisitions already done


    If High Court cancel any previous acquisitions then it will be done again under new rules.

    If builders directly purchase lands from formers then as per old news formers already has said that price of land will be in between 10,000 PSM to 20,000 PSM (after negotiation) , such deals may increase the cost of flats for existing buyers by 25-35%. All know in BBA of NE projects builders already mentioned clearly that if any extra compensation to give to anybody then only BUYER will pay. So finally who will suffer?

    NE was the market for maximum 2200 PSF buyers not for 3000+ PSF buyers, because in around 3200+ PSF Noida has much better under construction options with more advance states of project work.
    Let me make it more simple if any 1200 SF 2BHK flat selling in CR in 26 Lac then if same flat started to sell in 36 Lac then will any buyer purchase it? will he not started to look into IP even in 40 Lac for 2 BHK.
    CommentQuote
  • Hawa mein makaan

    Originally Posted by Edge111
    I think its going to be the policy for the further acquisitions ...it will not affect the acquisitions already done


    Right now the issue is for people who have already bought and paid up the builders. Based on either land which is now disputed or denotified...

    The worst is the situation of YEA, where land not even been acquired has been sold to unsuspecting buyers......
    CommentQuote
  • Originally Posted by sanjeevchaudhri
    You are right that it would be for further acquisitions.

    But my dear friend, High Court is slowly and steadily cancelling all the allotments done in NE.

    This means that these land parcels would now come again in the market and builders have to re-bid for them directly from the farmers at very high rate after accounting for 36% misc land use (16% to farmers and 20% for civic amenities) based on the new land acquisition policy announced today by BMW.


    I agree - now more n more farmers will go to court to get the de-notification and ask for more compensation - this will spread like a fire - I don't see any region safe now.

    Regards
    Sbajaj
    CommentQuote
  • Originally Posted by anubhaviit
    and what will happen to the land under express way crisscrossing GN, IP, Noida, YEW. will those farmers get market value from builder. development ki lagegi sabse pehale,

    I think its a political move, 80% land is already garbed and 20% maybe sold at market price. some farmers may benefit (which i doubt still) as this policy is applicable for new acquisition.

    like in haryana, undeveloped land will be bought from farmers by builders at bheek+ prices, then area will be notified for residential development , then projects will be launched , high edc will be charged, then with the paltry sum, narrow one time roads and shabby street lights will be installed . then forget rest,

    Till now, there was no EDC (External Development Charge, usually charged by regional authorities for developing roads, sewer lines, electricity, water supply etc.) in Noida/GN/YEA.

    With this new land policy where builders would buy directly from farmers, EDC would soon start in NOIDA/GN/NE/YEA (same as in Gurgoan, Ghaziabad etc).

    Metro would be funded using this levy.

    In the near past, Ghaziabad Development Authority levied a special cess (close to Rs 1500 per sq meter) on builders in NH 24 in the name of bringing Metro to that place.

    Soon\, such levies/cess would be imposed by Noida/NE/GN/YEA authorities also in the name of development of the infrastructure in the city.

    Also, very soon, it is highly likely that property tax would be introduced.
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  • This will hike in ready to move apts

    will have an upward trend on ready to move in apts....

    :bab (38):
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  • Even news of becoming father does not cause as much anxity as is being caused by the daily developments regarding RE in noida region. Daily, there is some new development. High court denotifying certain acquisition, then launch of Metro, announcement by BMW. Hard to speculate if baby(flat) will be delivered or not. :bab (38):
    CommentQuote
  • Originally Posted by vsonia
    will have an upward trend on ready to move in apts....

    :bab (38):

    Yes.

    Flat/land prices are high in Gurgoan as builders directly buy from farmers and Gurgoan Authority levies significant EDC changes.

    Same would now happen in Noida/GN/NE.

    Rush and buy ready to move-in properties but unfortunately these are in severe under supply in Noida.
    CommentQuote