GANDHINAGAR: Gujarat chief minister Vijay Rupani is planning to promulgate an ordinance to regularize all residential properties built on land coming under Urban Land Ceiling Act. The market price of these properties runs into several thousands of crores of rupees.
The revenue department has finalized the draft ordinance which will be sent for the formal approval of the cabinet next Wednesday. The CM has decided not to wait for the next budget session to introduce a bill in this regard. Sale of such properties face title clearance issues and are transferred mostly through power of attorney. It will boost prices of such disputed properties though it will be huge notional loss to government. If the government had taken the possession of these lands, it could have sold it for several thousands of crores of rupees.
The government of India had enacted the Urban Land (Celing and Regulation) Act, 1976 to provide for the imposition of a ceiling on vacant land in urban agglomerations and for the acquisitions of such land in excess of the ceiling limit. The related Repeal Act of 1999 had been adopted by the Gujarat assembly.
Credits Times of India