Urban land ceiling 'to go': Bengal plans land law overhaul to spur development
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Bengal will remove the Urban Land Ceiling Act to help development, finance minister Swapan Dasgupta said on Friday.
- ✓He called the old law a deterrent to growth.
- ✓The state also plans to change the barga system.
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- MARKET
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- The Telegraph
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- 2 Minute(s)
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- India Economy
Swapan Dasgupta in Calcutta on Friday Sourced by the Telegraph
Bengal will remove the Urban Land Ceiling Act and rework laws governing the barga system to facilitate development, state finance minister Swapan Dasgupta reiterated on Friday, days before the Suvendu Adhikari government is due to unveil its much-awaited industry policy.
"We have certain laws, which date back to the '70s. Which, the rest of India, has scrapped. One of them is Urban Land Ceiling Act. It is an impediment and a deterrent to development. It has to go," Dasgupta said at a nationwide convention of real estate developers.
The Urban Land (Ceiling and Regulation) Act was enacted in 1976 with the objective of preventing concentration of urban land in a few hands and to curb speculation and profiteering. It imposed ceilings on vacant urban land holdings and provided for acquisition of land held above prescribed limits by the state.
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