13-08-2014 04:23 AM | India

Noida body to acquire land directly from farmers

The Noida and Greater Noida authorities have decided to buy land directly from farmers for any planned development, including group housing projects. While this will help farmers get a higher rate of compensation and drastically cut down litigation that has slowed down the real estate sector, it will also mean costlier flats as builders fork out more for the land they acquire from the authorities for their projects.

At a joint board meeting on Tuesday, the two authorities decided to deal directly with farmers and circumvent the Land Acquisition, Rehabilitation and Resettlement Act, 2013 to avoid legal tangles.
Full Story : Times of India