BHUBANESWAR: Even as everyone dreams of owning a home in the Capital, all eyes are now on Bhubaneswar Development Authority (BDA)’s Land Policy which is now in its draft stage. The policy could prove lucrative for those turning over their land for development projects planned for the City. According to Vice-Chairman of BDA DK Singh, the Land Acquisition Act would be strictly followed to acquire land. ‘’What we intend is to pay additional compensation over and above what is prescribed in the Land Acquisition Act,’’ he said. Singh was speaking to the media after addressing the ‘State Con and Property Fair’ being organised by Confederation of Real Estate Developers’ Associations of India (CREDAI) here. The BDA has proposed to return 10 per cent of the acquired land to land-losers. The returned land would be fully developed by the authority. ‘’We have also proposed that land-losers will have access to all physical infrastructure to be developed by the government,’’ Singh said. The draft policy will be studied at the highest level of Government and once ratified, it will be implemented for development projects which will necessitate acquisition of land, Singh said. The BDA has also finalised a policy for co-developers under which land-owners, who wish to develop residential projects on their land, can apply to the BDA seeking partnership.‘’First the location of land will be analysed on receiving proposals from the land-owners and if the project is found viable, the BDA will demand 11 per cent equity in the project. Besides, the developer will have to pay a one-time licence fee,’’ the BDA vice-chairman said. The development authority would allow its brand name to be used for the project and develop physical infrastructure like roads for the project. However, the cost towards developing the physical infrastructure will be borne by the developers. Land-owners having 10 hectares or more will qualify for the co-developer scheme. The BDA is also coming up with a satellite township in Madanpur-Jagasara mouza on the outskirts of the City. It is already in possession 100 acres and acquiring another 190 acre of private land. About 200 acres of existing forest area will be integrated in the satellite township as green belt. Earlier, the State Con discussed ‘urban challenges’ with experts debating the emerging issues. Municipal Commissioner Vishal Dev dwelt on challenges of migration, waste management and planning. President of CREDAI Orissa DS Tripathy maintained that as land and construction prices have skyrocketed, a uniform rate code has been devised. Vice-president BK Das called for transparency for better housing in Capital and emphasised on infrastructure development.
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