New Delhi: A bill to amend the century old Registration Act, introduced in the Rajya Sabha, will help in implementation of the proposed Land Acquisition legislation and allow land owners to get market value for their land.
According to Rural Development Ministry officials, certain proposed amendments in the Registration (Amendment) Bill, 2013, are being brought to ensure greater accuracy in calculating land values thereby benefiting land owners.
If the amendments brought to the Registration Act, 1908 ares cleared by Parliament, it would necessitate "update and record" of the market value of the land in the changed scenario, officials said.
Thus the farmers, whose land is acquired for various projects, would get "real market value" under the proposed Right to Fair Compensation and Transparency in Land Acquisition, Resettlement and Rehabilitation Bill 2012, officials said.
Rural Development Minister Jairam introduced the amendment bill in the Rajya Sabha on Thursday--nearly a week ahead of the new Land Acquisition Bill being taken up in the Lok Sabha for discussion and passage.
One of the key features of the new `Right to Fair Compensation and Transparency in Land Acquisition, Resettlement and Rehabilitation Bill 2012? is the greatly enhanced amount of compensation that is guaranteed to displaced families.
However to calculate this amount, the formula relies on the registered value which are, at present, notoriously opaque and often outdated.
"If registration is made mandatory (and hence frequent) and if it can be vetted/reviewed by members of the general public then there will emerge over time, an accuracy in the reporting of land rates particularly in rural areas," a Rural Development Ministry statement said.
"Furthermore because of the unprofessional and ad hoc way in which they are recorded, land titles are often subject to dispute. These new amendments to the Registration Act will ensure greater accuracy in helping identify/determine beneficiaries (through clear titles)," it added.