By accommodation Times Bureau
On the very next day of the RBI announcement of unchanged rates that had an effect on the real
estate sector, prime minister MR. Manmohan Singh is likely to ease one more headache.i.e the
transfers of government land. The pm has approved the changes in the land transfer policy for
government owned land.
A ban has been imposed last year on transfer of land to any private entity except from one
government department to another department. The ruled stated that, under the government
land transfer policy any entity that needs land to implement projects will first has to take
cabinet-approval. In the process of securing cabinet-aprproval takes long time thus delaying the
projects.
The goal of this new introduced rule is to basically kickstart the infrastructural projects that
are crucial for the country growth and boost the sentiment for the industry players who are
somewhere not happy with the government rates policy.
PM has also relaxed norms for land transfer on lease or rent or license which has been
appraised by PPP(private public partnership) and were approved by the finance minister
butofcourse depending upon the value of the projects. PM has also allowed to use the
land of railways under the RAIL LAND DEVELOPMENT AUTHORITY according to the Railway
Amendment Act.
www.sevagiri.com
In a statement PM said, ‘’ this relaxation in the land transfer will only speed the private-public
partnership projects. All the PPP infrastructure projects-roads ,railways, ports, civil aviation
and metros have some element of land alienation as the projects is often built on government
owned land. The govt. continues to own the land which is leased or licensed out.
Delayed projects and delayed land acquisition have been often a complain of the players in the
real estate industry .
In all it’s a little of sugar splitting after a salt sprinkle.
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