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Is it monetarily benificial to sell land to government or individual
19-Aug-2023 (In Property Law)
We have a 3 acers of land near a village which is not under corporation and the land is 5 to 6 km near to big city. My dad said we should sell it now because in future the land will be acquired by government and they will offer less value than now. I would like to have full knowledge about my land and future plans of government. Whom should i contact and it is a good idea to sell it now...?
The false information is given to you father, no land is acquired forcebaly by government, only the government acquired for special purposes like dam, channel, or any national highway, if acquired they will give you compensation, you should not sell the land now you can get more prices in future, for further details call me nine four four eight two two two seven nine seven
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Adv. Satish Borule
Bidar | 25+ Answers
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It's a common misconception among people & real estate agents who use this gimmick to facilitate the sale and earn commissoin. But in reality, it's not true. If u sell your land to a private person, you may get a price depending upon the market value or even less. But, New Land Acquisition Act,2013 proposes the payment of compensations that are up to four times the market value in rural areas and twice the market value in urban areas. It's more beneficial to sell the land to Government than a Private person.
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Adv. Jamal Sait
Bangalore / Bengaluru | 400+ Answers
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