The CBI has arrested the CMD of realty firm Eldeco in connection with its probe in an alleged graft case in which some senior Income Tax officials have been nabbed by the agency.
The new Land Acquisition Bill was tabled in the Parliament today. However, not all are happy about the new Bill. After going through the initial Bill, president of Credai NCR, Pankaj Bajaj says that his first reaction was skepticism.
The landmark bill proposes strict norms for compensation and rehabilitation and also restricts government's power to acquire land for private projects. So how is India Inc reading this bill? While, the bill brings some relief in the form of transparency, it leaves a major lot of corporates unhappy.
Pankaj Bajaj, President of CREDAI NCR said that the interest of the developers and the end customers have not been represented adequately and hence, the CREDAI will approach both the Supreme Court as well as the Allahabad High Court.
Pankaj Bajaj, President of CREDAI NCR said, "Most of the crisis hit land was lying fallow, and, thus reversing the situation by giving it back to land owners won’t be a big deal." He sees the prices skyrocketing in the Noida extension region despite the nervous and bad mood.