Explore Business Standard
Land Acquisition Act
The Supreme Court on Wednesday said the compensation for land acquisition cannot be assessed in a mechanical manner but must be guided by considerations of equality, equity and justice. A bench of Justices Surya Kant and Ujjal Bhuyan said a fundamental principle in land acquisition jurisprudence was that lands with similar locational and developmental potential must be compensated equitably unless clear, objective distinctions justify otherwise. The bench said it must caution against an "excessively positivist" approach in matters of land acquisition. "It is well understood that the very exercise of assessing compensation is antithetical to rigid formalism. Compensation cannot be assessed in a mechanical or formulaic manner but must be guided by considerations of equality, equity, and justice," it said. The apex court's verdict came on a batch of cross-appeals filed by the Haryana State Industrial and Infrastructure Development Corporation and several landowners challenging the ...
Nearly 6,800 acres have been acquired by real estate developers and investors for more than USD 12.2 billion during 2018-22 period to construct greenfield realty projects, according to property consultant CBRE India. The consultant released a report 'Indian Real Estate - Betting on a Capital Future' on Tuesday. "The land acquisition space has been buzzing with higher interest primarily from developers in the recent past. On a cumulative basis, nearly 6,800 acres of land have been acquired by developers and investors during 2018-22," the report said. The activity has especially accelerated in the past two years, with nearly 60 per cent of the land being acquired from January 2021 onwards. "The fact that 2022 was a landmark year in terms of land activity is indicative of the long-term bets that investors are willing to take on the real estate sector in India," said Anshuman Magazine, Chairman and CEO - India, South-East Asia, Middle East and Africa, CBRE. The report mentioned that o