Land Acquisition Act 2013: Transforming the Land Acquisition Process
Summary The Land Acquisition Act 2013 aims to ensure fair compensation and rehabilitation for affected landowners. It has brought transparency and accountability to the process, though challenges remain in execution. ERM Global Investors offers insights and expertise in land acquisition processes to assist investors and developers. Introduction The Land Acquisition Act 2013, officially known as the Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation, and Resettlement (LARR) Act, has significantly transformed the land acquisition process in India. This legislation was introduced to ensure fair compensation for landowners and protect the rights of affected individuals while promoting sustainable development. Key Features of the Land Acquisition Act 2013 Fair Compensation – The Act mandates compensation to be at least four times the market value in rural areas and twice the market value in urban areas. Rehabilitation and Resettlement (R&R) Policy –...