The population on the earth has exceeded 7 million and is still increasing day by day. In a scenario, wherein every second a child is born, the world is facing a serious concern in terms of the resources that are limited in nature. To fulfill the needs and provide basic amenities i.e. food, clothing and housing, optimal utilization of the resources is the only way out. The case is worst in the developing nations, which are still struggling to keep pace with the developments that are taking place in the world. Take India for instance; a country of more than 1.2 billion the country has been able to cope with the problems of food and clothing to a large extent but when it comes to housing, more than one third of population is still without homes. However, they have now opted for Land Pooling Policy, to cope with this problem. Now the question is what is this land pooling service and how is it going to solve the problem of housing. Read on to know more.
Approved by the Ministry of Urban development, video S.O No. 2687(E), dated September 05, 2013; the policy aims to prohibit selling of land without the owner’s consent. Besides this, the policy also assures fundamental advancement in the way of acquisition and development of the land. This means the land will be developed and made ready for the use of the population and still will safeguard the rights of the owner of the land.
Who can participate?
Well, basically anybody who owns a land with complete documentation can take advantage of this policy. To understand further, the individuals can surrender their lands to the agencies that will develop the land on the tunes of urbanization and the owners can also be stakeholders in the development of the land. Afterwards, the owner will be returned with 40-60% of the surrendered land. According to the policy, there can be two basic types of land pooling.
- 20 hectares and above of land, wherein, 60% of the land would be returned to the owner
- 02 to 20 hectares of land, wherein, about 48% of the land will be returned to the owner
In other words, it’s a win-win situation for everybody. The country’s housing problem will be solved, government will be able to generate revenue and the owner will get major chunk of its property developed for its personal utilization without spending a penny.
Click here to know more about the land pooling policy and the land pooling services.
Source: http://www.sooperarticles.com/real-estate-articles/property-investment-articles/land-pooling-policy-need-hour-1466952.html
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