The Bill, which replaces the century-old Land Acquisition Act, 1894, proposes a unified legislation for acquisition of land and adequate rehabilitation mechanisms for all affected persons.
    
With the rehabilitation and resettlement clauses of the Land Bill, Crisil Research expects land prices to increase as the expectation of land owners will be higher.
    
"The land acquisition process will be longer and project gestation period will increase. Currently, the proportion of supply (which comprises projects of over 50 acres) to total planned supply in the top 10 Indian cities is 25 percent," it said.
    
Consent of 80 percent of landowners in case of land acquired by private companies and 70 percent for land acquired under Public Private Partnership (PPP) model.
    
The Bill calls for consent of 80 percent of the landowners in case the land is acquired by private companies and 70 percent in case the land is acquired under the Private-Public Partnership (PPP) mode.
    
The process of obtaining consent shall be carried out along with the Social Impact Assessment (SIA) study.
    
The new rules will apply retrospectively to cases where no land acquisition award has been made and to those where land was acquired up to five years prior, but no compensation was paid or no possession took place.

(Agencies)

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