Soon Housing societies in Bangalore will be able to buy agricultural land directly

Article from ET Realty

Bengaluru: Soon house building cooperative societies (HBCS) will be able to purchase agriculture lands directly from farmers without waiting ad infinitum to complete a long process as the Karnataka government is set to bring an amendment to the Karnataka Co-operative Societies Act, 1959.

Cooperation minister HS Mahadev Prasad told media on Monday that his department would introduce amendments and incorporations to the Act in the next session of the legislature. The proposal will dispel scepticism among HBCS members that the government may indirectly be allowing real estate developers a backdoor entry to purchase agriculture land and bypass all regulations.

However, justifying the need to allow HBCS to purchase agricultural land directly, Prasad said HBCS have been suffering due to non-allocation of sites for decades. The minister also said the department would ask HBCS to pay interest on the money paid by members of the societies, if they are unable to allocate the sites even after two years of receiving the money.

“Apart from purchase of agricultural land directly, the department also intends to bring reforms by having a single window clearance for all HBCS and cut the time duration for the development sites and layouts,” he said.

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