Govt says no provision for paying rates higher than market value
JAMMU: Minister for Revenue, Parliamentary Affairs, Hajj and Auqaf Abdul Rehman Veeri, Monday said that there was no provision for providing four times and two times more compensation in rural and urban areas of the market value for the land acquired for construction of Ring Road in Jammu and Srinagar.
He was responding to a joint Calling Attention Notice of MY Tarigami and Aijaz Ahmad Khan. The Minister however said that under compulsory mode of acquisition, the land owner is entitled to 1.5% over and above the amount awarded under the Land Acquisition Act by the Collector concerned.
Veeri said once Final Awards are issued, there is no alternate but to avail the remedy under Section 18 of the J&K State Land Acquisition Act through Civil Court.
He further informed the house that as per the J&K Land Acquisition Act, the given parameters are normally adopted for determination of the rates of compensation by the concerned Collectors that include the prevalent market value of the land, Location & Classification of soil, Proximity with National Highway and the main towns, Commercial potential of the land under acquisition, rates adopted in previous acquisitions in or around the vicinity and factors like scarcity of land in the area etc.
The Minister said the future potential value of the land cannot be assessed under the Land Acquisition Act as it does not permit doing so. He said under the Land Acquisition Act, it is only the prevailing value of land which can be provided to the land owners.
He said, although, by and large, stamp duty rates form the benchmark for assessing the value of land, but, as regards, Srinagar Semi-Ring Road, no final award has so far been issued and the process for acquisition of land is at advanced stages.
He said efforts are being made to provide the land compensation which is fair and in accordance with the provisions of the Land Acquisition Act. He said the Collectors normally stick to the rates notified for stamp duty purposes, which are also revised annually. “Yet, in genuine cases, the rates have also been awarded beyond the stamp value”.
Veeri further stated that the land owners have got remedy available under section 18 of the Act and are free to seek reference under the said section in case they are aggrieved of the alleged inadequacy of rates awarded.