Industry fears hike in Property prices with Land Bill

The industry experts fear that the property prices may be hiked with the approval of land acquisition bill. They predict rise in the property prices along with the land acquisition bill.

If the land acquisition bill is passed the property prices will be rising, opined industry experts. The experts feel consoled by the fact that the all-party meet did not reach on a consensus over the land acquisition bill which was presented for the open discussion in the parliament last week.

UPA government wanted the land acquisition bill to be passed in the ongoing parliament session. However the ruling party’s target was arrested by the opposition party leaders who strongly opposed the implementation of land bill.

Once the bill gets the nod from the parliament, the farmers will be happier. They will have more rights over their lands. The builders will have to get the consent of the land owners, at least a majority of them, for developing any project.

However this bill will have an impact on the property prices. Property prices will shoot up. On the other side it will make all property transactions more transparent and clear. With the bill the cost of the project will be increased. This will affect the property prices badly.

Industry experts opine that the land prices will be four times higher in the rural areas. This will create a situation in which affordable housing will not be available even in rural areas. In the urban areas the property prices will be doubled.

Moreover the development of the project will not be as easier as it is now. As the builders will have to get the consent of the land holders at least of a majority, the development of the projects would be delayed. Yet the bill is considered as an attempt of the UPA government to gain the vote banks of the farmers.

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