DLF to Buy Gurgaon SEZ Land at Market Rates

July 25, 2007	(3 votes, average: 4 out of 5)  Loading ...
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Staying in step with what the Haryana Government has asked, India’s top real estate company, DLF Ltd. will offer existing market rates to farmers to buy land for its upcoming multi product SEZ in Gurgaon. This would increase the company’s investment in buying the land.

The market price in the areas allotted for the DLF SEZ is 4-5 times of the floor price in the state which is around Rs 22 lakh per acre. The proposed SEZ is in vicinity to Reliance Industries’ Jhajjar SEZ. Most land pieces in Jhajjar are believed to be infertile.

DLF has recently approached Haryana State Infrastructure and Industrial Development Corporation (HSIIDC) to facilitate acquisition for the project. However, the authority has denied for it till the company has acquired 75% of the total project area, informs an authority official.

The company has asked for the state government’s support in a way of imposing Section 6 of the Land Acquisition Act in some tracts. Using the section, the state governments acquire land from farmers.

According to the law, the state government cannot acquire agricultural land without the farmer’s permission. Contrary to this, if a land is notified for any specific project, the owner cannot apply for bringing any change in use.

News Published Under:   Special Economic Zones |

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