As a response to the last year farmers agitation over the faulty land acquisitions and poor compensations as in the Tata-Singur failure in West Bengal, Posco in Orissa and the recent one going on in Noida over the UP government land acquisitions- the department of government concerned, which is the ministry of rural development is planning to introduce a new bill as a replacement to the older Land Acquisition Bill, 1894. It has drafted the new bill pertaining to land acquisitions by the name of National Land Acquisition and Rehabilitation and Resettlement Bill, 2011 and has put it in the public opinion till 31st August for comments. If this new bill is passed it will replace the earlier bill. This draft has come up with specific provisions but there’s no standardization of land prices which may lead to lesser compensations than what is deserved.
Prodipta Sen, VP, Alpha Gcorp, a Delhi-based real estate firm says that though the bill is a first step towards regularizing land acquisition but government has to do more in order to ensure checks and balances for fair evaluation of the land price. The basic drawback of the proposed bill is that there is no standardization on estimating the property value.
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