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Construction : Exclusive Report | December 2012 | Source : Construction Update

Impact of the Land Acquisition Bill

"There is no doubting the fact that the prices are going to rise in effect to the Land Acquisition Bill, in fact, along with land, the prices of the end product will also escalate. On account of this the affordable housing segment would suffer too. However, having said that, the biggest concern would be the industrial land, proving the viability of industrial land can be a grave issue post the Bill. Looking at the brighter side, the speed of acquisition will become much faster and so will the execution of projects because there is a certainty owing to the fact that the Bill makes consent of 80 percent of owner mandatory for private projects and 70 percent in public private partnership project. The Bill has tried to address the grievances of landowners but does not cater to consumers' interest at all. The intent of the Bill is justified but the needs of the landowners, developers and end consumers should be addressed as a whole and not separately which is why it may need some more structuring."

Naushad Panjwani - Senior Executive Director -Knight Frank India

 
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