New Amended Land Acquisition Act for fast tracking infra, to boost Affordable Housing

The new Land Acquisition Bill of the Haryana government aimed at speeding up the construction of infrastructure projects, will provide a boost to affordable housing, particularly to high potential zones like Gurgaon.

Haryana government’s new reform initiative comes in the form of ‘Right to the Fair. Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Haryana Amendment Bill 2021’. It intends to amend the principal act of 2013 to exempt certain development projects from the preview Act pertaining to conducting Social Impact Assessment Study. These development projects pertain to affordable housing projects, health, education and urban metro rail projects, besides industrial corridors and rural infrastructure. The new Act proposes to dispense with the need for Parliament’s approval and social impact assessment study for infrastructure projects.

Says Mr. Pradeep Aggarwal, Founder & Chairman, Signature Global and Chairman, Assocham National Council on Real Estate and Housing, ” It’s seen that land acquisition poses as a major hurdle for real  estate and infrastructure projects. In Gurgaon, habitable affordable housing projects developed under PMAY and Haryana’s Affordable Housing Policy, lack basic civic infra related to roads, power, water and sewerage, majorly due to  land acquisition hurdles. The new amended Land acquisition Act will help remove this big hurdle to fast track infra and real estate projects. But considering that the government and developers focus is on promoting green affordable housing, it should be ensured that there is no trade-off between development and environment protection.

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