Tuesday, September 9, 2008

Land ahoy!

Between Tata Motors’ Singur face-off and your 250 sq m plot in Delhi that’s been under siege from builders for the past three years, there’s a single binding force: transfer of property. It is the process of transfer that differentiates the first from the last — you have a choice.
In the case of mega-projects dotting the country, owners of land don’t have that choice. Here, too, if the land is acquired by a private company — a DLF acquiring 2,500 acres in Gurgaon to develop a township, for instance — and landowners get what they feel is a market rate (or higher), the transfer is smooth. Sweetening such deals is also the promise of jobs, an equity stake in the project, equivalent land elsewhere and so on.

Opinion in Hindustan Times, September 09, 2008

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