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A commercial builder's comment on the land acquisition bill
The land acquisition bill has to be viable for both farmers and the ultimate users, says executive director of Paramount Group, Ashwani Prakash.

WITH PROTESTS by farmers still underway about land acquired by real estate developers in Greater Noida, the builder community in the NCR region, so far the ‘target’ of civil cases by citizens and state governments, has its own thinking about land acquisition and the bill that’s being formulated, so that the bill that comes out is fair to all parties concerned.

Property developers such as Amrapali, Supertech, Panchsheel, and Mahagun, after being caught in the crossfire between the Uttar Pradesh government and farmers, have relayed their views publicly. One such real estate player is the Paramount Group. Its executive director believes that India is considered to be one of the fastest growing economies in the world. The government is also looking for a growth rate of more than 10 per cent, which requires industrialization and the development of other infrastructure in a big way, and this is not possible without the availability of land.

The cost of any construction project largely depends on the cost of the land used for that particular project. The land acquisition reforms and laws should be directed and be framed keeping this fact in mind. The aim should be that the land owner should get a proper compensation for the land and, there should be a provision for the livelihood of the person/family whose land is acquired at the same time. The acquisition laws should be framed in a manner that the end user of the acquired land gets it at a reasonable competitive price completed with all the infrastructure.

The builder believes that the above points should be taken into consideration while formulating the proposed land acquisition bill, for the purpose of having a balance in the bill so that it becomes viable for both farmers and the ultimate users.

Editorial NOTE: This article is categorized under Opinion Section. The views expressed in this article are solely those of the author and do not necessarily represent the views of In case you have a opposing view, please click here to share the same in the comments section.
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