Policy aims to support landowners who are in need of immediate liquidity and cannot wait for his share as in case of land pooling project
Chandigarh, December 1- In a bid to support landowners who are in need of immediate liquidity and cannot wait for their share in case of land pooling project, Haryana is set to introduce Haryana Land Partnership Policy-2022.
A decision to this regard was taken in the meeting of Council of Minister held under the Chairmanship of Chief Minister, Sh. Manohar Lal here today.
While, e-Bhoomi and Land Pooling Policy have become preferred land aggregation tools of the State Government, the said Policy has been approved by the Council of Ministers.
This Policy provides for any State Department or Development Agency to publish expression of interest in newspaper in response to which land owner/ land owners/ aggregators can offer their lands. The development agency will pay collector rate of lands to the land owner/ aggregator. During the course of development of the project the land owners are offered 50 percent profits out of the running revenue.
These payments will be made in every six months interval. The time period for project is kept as three years for projects up to 500 acres project and five years for projects beyond 500 acres. The projects will be handled by a special purpose vehicle/company formed by the development agency involved. Any land owner contributing more than 10 percent of the land will also be nominated as Director on Board of the Company.