-The Indian Express Unfinished car shells rusting in a deserted factory in India's West Bengal state lie testimony to flaws in a century-old land-acquisition law the government now wants to replace. * Jobs, housing, cash to landowners made mandatory * Costs, project delays to increase - Indian corporates react * Bill to push up costs by 350 pct for big plots - analysts, cos * Bill likely to be passed in December Tata Motors was forced...

-PTI   The Commerce Ministry today said there was a need for a relook at the land ceiling rules for Special Economic Zones (SEZ) in view of protests against land acquisitions and it will shortly come out with a draft to bring changes in the SEZ Act of 2005. "There is a need [for a relook at] the SEZ rules and policies.... The minimum land requirement will also be relooked at, as land...

West Bengal on Wednesday finalized a new land policy under which it will seize industrial land not used for five years. If the land had been acquired from farmers, the government will redistribute it among original owners, the new policy says, expanding the scope for returning farm land taken over for industrial use. Though cleared by the state cabinet on Wednesday, the new land policy wasn’t formally announced in view of two...

-PTI   Industry body Ficci has suggested that the proposed land acquisition act should apply to the private companies only if they buy 500 acres of land or more, instead of the 100 acres as suggested in the draft law. "The industry feels the threshold of 100 acres is very low for projects, especially in rural areas and this may only encourage smaller and fragmented holdings particularly in the mining sector. Hence, this...

The anti-corruption campaigns that has brought politicians and businessmen under the scanner-especially their links with the builder community being exposed in recent scams-has got the real estate sector worried. A number of industry insiders and sleuths have confirmed that the flow of unaccounted money (or black money) in the system, a big source of funding for the sector facing funds crunch, will get disrupted. An unhealthy nexus between builders and politicians...