Minimum floor rate doubled; annuity amount also raised
The Haryana Government has decided to double the minimum floor rate (MFR) payable for acquisition of land, increase both the annuity amount payable over 33 years as well as its incremental annual hike and give bigger plots in case private residential property is acquired.
Talking to media persons here on Wednesday evening, Chief Minister Bhupinder Singh Hooda said that the affected farmers would also be offered government jobs besides industrial and commercial plots.
Announcing a “no litigation incentive”, which works out to about 20 per cent of the MFR, he said it would be payable over and above the MFR to such land owners who “undertake not to go in for litigation''.
Mr. Hooda said that major changes had been made in the Land Acquisition Policy, especially in the relief and rehabilitation segment.
He said the new policy would be implemented retrospectively from September 7, 2010.
He disclosed that the State had now been divided into five zonal brackets, instead of three under the old policy, for computing the MFR. For land situated within the notified limits of Gurgaon Municipal Corporation, the new MFR has been fixed at Rs. 72 lakh per acre, including Rs. 8 lakh as no-litigation incentive. A farmer in Gurgaon will now get up to Rs. 72 lakh for an acre of his land.
For land situated within the notified limits of Faridabad and Panchkula Municipal Corporations, areas forming part of the Development Plans of Gurgaon-Manesar Urban Complex, Sohna, and Sonepat-Kundli Urban Complex, the MFR has been fixed at Rs. 54 lakh per acre, including Rs. 6 lakh as no-litigation incentive.
For areas situated within the Development Plans of Bahadurgarh, Rohtak, Rewari, Dharuhera, Bawal, and Panipat towns, the MFR has been fixed at Rs. 45 lakh per acre, including Rs. 5 lakh as no-litigation incentive.
In the rest of the National Capital Region, areas situated outside the limits of Panchkula Municipal Corporation in Panchkula District, and land situated within the Development Plans of all other district headquarters outside the NCR, the MFR has been fixed at Rs. 36 lakh per acre, including Rs. 4 lakh as no-litigation incentive.
In the remaining parts of the State, the MFR will be Rs. 21.6 lakh per acre, including Rs 2.4 lakh as incentive.
Moreover, landowners would now be paid annuity amount of Rs. 21,000 per acre/per annum which would be increased at the rate of Rs. 750 every year over a period of 33 years. The amount paid over 33 years works out to Rs. 10,89,000 per acre, he added.
Stamp duty exemption
Mr. Hooda further announced that that the affected farmers would be exempted from stamp duty for purchase of land in the State.
In another major farmer-friendly initiative, Mr. Hooda said that the State Government would take up with the Centre the issue of absolving those farmers whose land is acquired by the Government from capital gain tax preview.