Government finalises new Land Acquisition Bill

The Government has finalised the new Land Acquisition Bill and will place it for consultation for one month.

July 27, 2011 / 16:39 IST

The Government has finalised the new Land Acquisition Bill and will place it for consultation for one month. According to the new bill, rural and urban land acquisition norms will be different, said Rural Development Minister Jairam Ramesh.
In rural areas the compensation will be six times the registered sale price and it will be twice more for people in urban areas whose land is acquired. The consent of 80% of the people of the area where land is to be acquired will also become mandatory.

The new Land Acquisition Bill is also compliant with all existing laws on tribal welfare. The process of acquisition will also be made fully transparent.

Also read Progress at stake in Greater Noida property crunch

first published: Jul 27, 2011 03:20 pm

Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

Subscribe to Tech Newsletters

Al Edge Newsletter On Saturdays

Find the best of Al News in one place, specially curated for you every weekend.
MC Tech 3 Newsletter Daily-Weekdays

Stay on top of the latest tech trends and biggest startup news.

Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347