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Will prices of under construction flats in Noida/NE rise to pre 2005 levels ??

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Will prices of under construction flats in Noida/NE rise to pre 2005 levels ??

Last updated: May 26 2011
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  • #41

    #41

    Re : Will prices of under construction flats in Noida/NE rise to pre 2005 levels ??

    Land: NAC recommends compensation six times the registered value

    Just imagine the cost of aquistion now in Noida/NE/Greater Noida !!!!

    The Hindu : News / National : Land: NAC recommends compensation six times the registered value


    The Sonia Gandhi-led National Advisory Council (NAC) decided on Wednesday to propose to the government that compensation for those whose land is acquired for public purposes — such as a dam, irrigation project or military installation — will be six times the registered sale deed value, including solatium.
    It will also recommend that those whose livelihood and shelter are adversely affected because of acquisition for any public purpose are also brought under the protection of this law. These include agricultural workers, artisans, fisher-folk and forest-gatherers.
    Government protection

    Meanwhile, though no decision was taken on acquisition of land for private purposes, the NAC, sources said, was veering around to a consensus that such transactions — provided they displaced more than 400 households — would have to be done under the protection of the government, with the latter acquiring all 100 per cent of the land.
    The logic for this is threefold: one, if the government does not intervene in such cases, the poor and vulnerable could be exploited by big buyers; two, those displaced in such cases would not be entitled to the relief and rehabilitation package that the government will give those displaced by projects with a public purpose; and three, those who lose livelihoods and shelter would be totally beggared.
    However, as this — government intervention in acquiring of land for private purposes — involves complicated legal issues, the NAC has asked the Working Group which prepared the discussion note for Wednesday's meeting to do some more work on this. The WG is headed by Harsh Mander and its two other members are Aruna Roy and N.C. Saxena.
    Unlike in the case of food security and communal violence, the NAC will only make a set of recommendations for government on land acquisition — it will not be drafting a law, the sources said.
    The NAC also decided to recommend a single National Development, Land Acquisition, Resettlement and Rehabilitation Act, rather than the two separate pending government Bills, the Land Acquisition (Amendment) Bill 2009 (LAA 2009) and Resettlement and Rehabilitation Bill, 2009 (R&R 2009).
    The Council also stressed that that all possible options of more barren, less fertile and waste lands are explored before acquiring agriculture land. It should also comprehensively define project affected persons/families, and provide for a just, timely compensation, resettlement and rehabilitation package through a humane, participatory, informed, consultative and transparent process.
    The NAC felt that those who have government assigned land (beneficiaries of government pattas) will also be entitled to the same compensation. The option will also be offered to those who lose land to receive all or part of their compensation in the form of annuities.
    If land is acquired for a public purpose and not used within five years, private property that was acquired should be returned to its original owners.
    Panel mooted

    The NAC recommended the setting up of a National Commission for Land Acquisition, Resettlement and Rehabilitation (NCLRR) with powers to supervise, and exercise oversight over land acquisition, resettlement and rehabilitation.
    Those who attended the meeting included Narendra Jadhav, Pramod Tandon, Jean Dreze, N C Saxena, Madhav Gadgil, Aruna Roy, Anu Aga, Shiva Kumar, Deep Joshi, Farah Naqvi, Harsh Mander and Mirai Chatterjee.

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    • #42

      #42

      Re : Will prices of under construction flats in Noida/NE rise to pre 2005 levels ??

      NAC: Govt must acquire land even for private projects

      NAC: Govt must acquire land even for private projects - The Times of India

      NEW DELHI: The government should be omnipresent in all cases of land acquisition – whether for government or private developers – the Sonia Gandhi-led National Advisory Council has concluded, implying a rejection of the government's existing proposal that government intervene to help private developers cover the last bit of acquisition. Besides, landowners should get six times the registered price of land if it is acquired by the government, NAC has recommended.

      For all public purposes, the government should be solely in-charge of acquiring land – even if public purpose is defined to include a private project meant for public good -- the NAC has decided. It has also recommended that consent of 75% of the affected gram sabhas should be taken before the state acquires land for private projects.

      In each case of acquisition, the government would be required to prepare an entire package of land compensation and resettlement and rehabilitation of even the landless affected by the project. To facilitate this, the council has pushed for a single bill incorporating both acquisition and consequent rehabilitation.

      The advice from NAC stands in complete contrast to the provisions of the proposed bills. Sources said the rural development ministry had so far backed the existing bills. Under the existing proposals, the government would intervene to buy 30% of the land if the developer had procured 70% through direct negotiations with landowners.

      But with Congress president Sonia Gandhi backing the recommendations put forth on Wednesday, the government will have to overhaul its views. Sources said Sonia backed the need to provide a cover not only to landowners but also to the landless who also get impacted when lands are taken over.

      It was noted, sources in NAC said, that land acquisition at present only brought compensation to the owners and it was recommended that the landless should also have a 'justiciable' right to rehabilitation and compensation.

      For landowners, the council has suggested that the compensation – six times the registered price -- could be given as annuities spread over 33 years and increasing by 10% every year. For the landless, the think tank has pushed for payment of 120 days of minimum wages being paid for 33 years as cash.

      The meeting which lasted for three hours – with Sonia in attendance all through – deliberated all the three options on the controversial issue of acquisition for private projects. While some members had suggested that government should have no hand in it, the government had its 70-30 proposal, others warned that in this age when most infrastructure projects are contracted to private developers, it would be impossible to segregate 'public' from 'private purpose'. Consequently, the consensus came to retaining a role for government to regulate the entire process.

      But the NAC decided to leave the nitty-gritty of how these mechanisms are built into the legislation to the government and not dwell on micro-details of how the state regulates, implements and monitors the entire business of assessment of compensations, resettlements and rehabilitation, acquisition of lands and get the same implemented.

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      • #43

        #43

        Re : Will prices of under construction flats in Noida/NE rise to pre 2005 levels ??

        NAC looks for win-win situation

        The Pioneer :: Home : >> NAC looks for win win situation

        Adopting a pro-farmer approach on the contentious issue of land acquisition, the National Advisory Council (NAC) on Wednesday recommended the Govern-ment should acquire entire land and owners must be given six times the registered sale deed value, including solatium.

        In its meeting chaired by UPA chairperson Sonia Gandhi, the NAC also suggested that people dependent for livelihood on land, but not having legal rights, must be given 10 days of minimum wages per month for the next 33 years.

        Moreover, if the land once acquired is resold, then 25 per cent of the difference in price should be given to the original land holder and the process must be repeated every time the land is sold, the NAC has suggested.

        The NAC recommendations are revolutionary as it not only compensates for the loss of land but has also equated loss of livelihood of persons like sharecroppers, artisans, fisher-folk and others who are dependent on it without having legal rights over it.

        The people losing livelihood due to land acquisition will also get benefit of the relief and rehabilitation package in case they are displaced, NAC member NC Saxena told The Pioneer.

        The NAC has suggested that the land acquisition should be only for public purpose like strategic and infrastructural project and social service like health and education. If acquired land is not used within five years, it should be returned to original owners. The urgency clause should not be used for acquiring land except for national security and defence purposes.

        The Government, which has committed to bringing a new Land Acquisition Bill in the Monsoon Session of Parliament — following the recent agitation in Bhatta-Parsaul villages of Greater Noida — would now have to give six times the compensation amount if the NAC recommendations are accepted. Under the official Land Acquisition Bill, the proposal is that the farmers be given registered sale deed price/circle rate.

        The NAC has rejected the proposal that 70 per cent of land be purchased by the industry directly and only 30 per cent be acquired by the Government, and said the Government must acquire the entire land if numbers of people to be displaced are above 400. The NAC also said the Government should start the process of acquisition only after getting written consent of 70 per cent of land owners.

        “The NAC wants that the farmers should not feel heartburn but happily give their land for any industrial project and this can happen only if they get sufficient compensation for their land,” Saxena said

        It has generally been found that the registered price of the land is one-third of the actual market price, as registered price is not reviewed regularly, so the NAC feels that if farmers get six times the registered price, then it will be double the market rate.

        “It will be a win-win situation for both farmers and industry as the latter would have to pay less than one per cent of the project cost for the land. The higher compensation to farmers will reduce any delay in land acquisition which causes project cost escalation, he pointed out.

        Moreover, by granting 25 per cent of the differential in price to original owner every time land is resold will not only compensation the farmers whose main grievance is that middlemen and brokers are benefiting from the price increase of land while they paid once. It will also reduce the rate of escalation in land price as middlemen, brokers and land developers will have to pay higher taxes to compensate original land owners.

        The NAC has suggested that instead of having two separate bills —- Land Acquisition (Amendment) Bill and Resettlement and Rehabilitation Bill —-only one bill under the title National Development, Acquisition, Displacement and Rehabilitation Act be brought before Parliament .

        A National Commission for Land Acquisition, Resettlement and Rehabilitation should be set up, with powers to supervise, and exercise oversight over land acquisition, resettlement and rehabilitation, the NAC has said.

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        • #44

          #44

          Re : Will prices of under construction flats in Noida/NE rise to pre 2005 levels ??

          Originally posted by sanjeevchaudhri View Post
          The Pioneer :: Home : >> NAC looks for win win situation

          Adopting a pro-farmer approach on the contentious issue of land acquisition, the National Advisory Council (NAC) on Wednesday recommended the Govern-ment should acquire entire land and owners must be given six times the registered sale deed value, including solatium.

          In its meeting chaired by UPA chairperson Sonia Gandhi, the NAC also suggested that people dependent for livelihood on land, but not having legal rights, must be given 10 days of minimum wages per month for the next 33 years.

          Moreover, if the land once acquired is resold, then 25 per cent of the difference in price should be given to the original land holder and the process must be repeated every time the land is sold, the NAC has suggested.

          The NAC recommendations are revolutionary as it not only compensates for the loss of land but has also equated loss of livelihood of persons like sharecroppers, artisans, fisher-folk and others who are dependent on it without having legal rights over it.

          The people losing livelihood due to land acquisition will also get benefit of the relief and rehabilitation package in case they are displaced, NAC member NC Saxena told The Pioneer.

          The NAC has suggested that the land acquisition should be only for public purpose like strategic and infrastructural project and social service like health and education. If acquired land is not used within five years, it should be returned to original owners. The urgency clause should not be used for acquiring land except for national security and defence purposes.

          The Government, which has committed to bringing a new Land Acquisition Bill in the Monsoon Session of Parliament — following the recent agitation in Bhatta-Parsaul villages of Greater Noida — would now have to give six times the compensation amount if the NAC recommendations are accepted. Under the official Land Acquisition Bill, the proposal is that the farmers be given registered sale deed price/circle rate.

          The NAC has rejected the proposal that 70 per cent of land be purchased by the industry directly and only 30 per cent be acquired by the Government, and said the Government must acquire the entire land if numbers of people to be displaced are above 400. The NAC also said the Government should start the process of acquisition only after getting written consent of 70 per cent of land owners.

          “The NAC wants that the farmers should not feel heartburn but happily give their land for any industrial project and this can happen only if they get sufficient compensation for their land,” Saxena said

          It has generally been found that the registered price of the land is one-third of the actual market price, as registered price is not reviewed regularly, so the NAC feels that if farmers get six times the registered price, then it will be double the market rate.

          “It will be a win-win situation for both farmers and industry as the latter would have to pay less than one per cent of the project cost for the land. The higher compensation to farmers will reduce any delay in land acquisition which causes project cost escalation, he pointed out.

          Moreover, by granting 25 per cent of the differential in price to original owner every time land is resold will not only compensation the farmers whose main grievance is that middlemen and brokers are benefiting from the price increase of land while they paid once. It will also reduce the rate of escalation in land price as middlemen, brokers and land developers will have to pay higher taxes to compensate original land owners.

          The NAC has suggested that instead of having two separate bills —- Land Acquisition (Amendment) Bill and Resettlement and Rehabilitation Bill —-only one bill under the title National Development, Acquisition, Displacement and Rehabilitation Act be brought before Parliament .

          A National Commission for Land Acquisition, Resettlement and Rehabilitation should be set up, with powers to supervise, and exercise oversight over land acquisition, resettlement and rehabilitation, the NAC has said.

          I will say this is the great approach by NAC. It will increase land price and then again great appreciation for existing customers like gurgaon.

          May be after that no need for lease hold land. It can be free hold.

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