New Delhi: Even as the country battles the issue of land acquisition for industrial purposes and public use, Real Estate companies across the country have rejected the proposed Land Acquisition Bill, accrediting it as anti-urbanisation and anti-farmer.

Commenting on the proposed bill, the apex realty body CREDAI (Confederation of Real Estate Developers’ Associations of India), which has 6,000 members, said that the present Bill will lead to the shortage of houses and escalation of housing prices in the country.

Multi-fold escalation in housing prices will also restrict the middle class families from buying their dream house.

“The present form of the bill is purely detrimental to urbanization. If the bill is passed in the present format then township development will become history in the country,” said CREDAI president Pradeep Jain.

CREDAI demanded the bill should include a provision which would empower private firms to have direct negotiations with the farmers regarding land acquisition for housing projects. This will help the farmers to indulge into lucrative deal.

CREDAI also demanded complete removal of ban on the acquisition of multi-cropped land, saying this will restrict developments in these areas.