India Inc baulks at new land Bill, calls for balance
The proposed new land Bill means cost increases and project delays for developers, thanks to rules that will raise land values and compel them to provide new homes, jobs, monthly stipends and a cut of future profits to former landowners. “This just isn’t going to work for buyers,” said Rupen P Patel, managing director, Patel Engineering, an infrastructure firm specialising in power and road projects. “It is going to make a lot of projects unfeasible both in the short and long term, and growth will be hurt.”
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