Private sector land deals that involve willing buyers and sellers transacting at market determined rates, should be kept out of the purview of the land acquisition Bill. This was stated by Mr Rajeev Talwar, Group executive director of DLF.
“Distinction between Government land acquisition process, and free trade between willing buyers and sellers in private sector transaction, should be maintained. To paint private property transactions between the willing buyer and seller with the same brush is not correct …and that should not be part of the land acquisition Bill,” Mr Talwar said.
He said that any escalation in the land cost will be passed on to the consumers. “If there is any additional financial burden, it will become a part of the price…how will you provide housing for the poor sections, for the lower income group, or make housing affordable,” he said.
Mr Talwar, however, declined to comment on just how much the residential property prices would go up as a result of the provisions proposed in the Bill.
“Once the market determined rates have been paid, then why should there be any liability imposed on the transaction. Rehabilitation and Resettlement becomes a liability for the future, or an additional liability over and above the compensation,” he said.