Benefits of Land Pooling Policy
Replace Land Acquisition System – LLP (Land Pooling Policy) has the power to end the many years long land acquisition system. This benefit makes it highly significant in modern days. It will also prevent ever increasing land price. As a matter of fact, transparency in old land acquisition policy is below standard and farmers always complaint for less and unfair compensation.
Autonomy for Public Private Sector- According to the newly introduced MPD 2021 & Land Pooling Policy, Delhi Development Authority (DDA) will only work as a facilitator. Due to this wonderful feature, public private sector will get abundant chances to improve the development. Just because of no interference policy, private sector will swiftly develop new infrastructure while maintaining all rules and regulations.
Development in outer Delhi Region- Detailed reports suggest that population of Delhi has increased more than 10 folds in last five decades. It has increased the land requirement. If current situation is considered then Capital City-Delhi needs a kind of plan that can help to make the best use of land available in villages of outer Delhi. The main sources for additional land pooling projects land are Dwarka, Narela and Bawana. New policy will also help these outskirts to develop in a standardised way.
Employment Opportunities- Stipulated laws of LPP will help in providing approved living space to more than 10 million families. It would automatically increase the employment opportunity for those who are directly or indirectly related to the construction industry. Just because of planned and legal development, it ought to attract foreign investments that would surely play a key role in providing and maintaining the best in class infrastructure without investment.
Increased Revenue Collection – New Land Pooling Policy has been configured in a way that it will simultaneously help government and land owners to enjoy increased profit. Apparently, owners must get an opportunity to recover the incurred cost with land. Furthermore, accurate and precise land registration system of LLP wood significantly increase public revenue from property taxes.
Boost for Struggling Real Estate Market- Currently, real estate market is going through the low phase but LPP shows a ray of hope to builder for re-establishment. Instability in land market proves a hindrance to the growth of nation. LPP would again attract people towards real estate industry.
It is essential to keep in mind that several highly developed cities like Gujarat, Andhra Pradesh and many others have executed Land Pooling Policy and they are stick to it because they are reaping high benefits in a convenient way.