Immovable Property (Amendment) Bill passed in Lok Sabha
The Lok Sabha, on Wednesday, passed The Immovable Property (Amendment) Bill to amend the regulations governing compensation payable for acquisition of immovable property by the Centre for defence and security purposes. The bill was moved by Urban Development Minister Hardeep Singh Puri and was adopted by a voice vote.
The bill seeks to amend a provision to allow the Centre to re-issue the notice of acquisition in order to ensure that the property’s owner gets an opportunity to be heard. Putting at rest the apprehensions of the members of the house, the minister said the compensation was meant for an interim period and solely for the purpose of determining the date of compensation to be computed.
According to the government, there could be situations resulting in prolonged litigations and if the apex court quashes the notice of acquisition, there might be astronomical hike in compensation amount on account of market value appreciation. Against this backdrop, the bill seeks to amend a section of the Requisitioning and Acquisition of Immovable Property Act to “enable the central government to re-issue the notice of acquisition to the owner or such other person interested in the property, for the purpose of giving an opportunity of being heard”.