For land,sale outright rather than lease

The committee has suggested a uniform policy on sale,purchase or lease of land held by various Central departments and agencies

The committee has suggested a uniform policy on sale,purchase or lease of land held by various Central departments and agencies. The objective would be to ensure that the optimal value of such land is realised,with rates based on location,floor area ration and intended land use.

The committee has recommended that all properties be dematerialised on the lines of equity shares for transparency. Land allocation by land development agencies and housing boards under Central control,it says,must use a transparent and competitive bidding process,especially for commercial,industrial and institutional properties.

Pointing to the absence of upward revision of lease rents and periodical review of the schedule of rates,the committee has advocated a policy for outright sale wherever possible. For existing leased properties,it had recommended revision in lease rents in cases where these were nominal.

The committee has recommended a regulator for the land and housing sector. It cites the example of the Delhi Development Authority (DDA) acting simultaneously as a regulator,a housing board and a builder and observing it appears more like a finance company than a land development authority.

In a broader context,it has recommended a Central Depository of Land Records to maintain a balance sheet for all Central arms,and a National High-level Oversight Committee for monitoring land alienation by such organisations.

It also advocates land exchange between various Central organisations and also with state governments based on location,availability and need to avoid incurring higher costs. It has called for a Land Exchange Management Committee headed by the secretary,Urban Development.