Land bill not to affect real estate developers: CREDAI

COIMBATORE: The proposed Land Acquisition Bill would in no way impact the real estate sector in the country, CREDAI said today.

"If handled in the right perspective and right manner, the bill can help farmers. But, it will not, in any way, impact or affect the sector," Confederation of Real Estate Developers Associations of India (CREDAI) national president Gitambar Anand told reporters here.

Real estate developers get land directly from farmers or other land owners at the price fixed by them and they were not losing any money on it, he added.

Sometimes, farmers in urban areas get twice the original prices, while in rural areas, they get four times more, Anand, who was here to participate in a two-day state conference of CREDAI, said.

However, the government has to handle the matter cautiously, though it will take another three to four years to acquire the land under the bill due to teething problems in getting it, he added.