Chennai: With the DMK government seeing future satellite cities as an integrated growth center, the state is likely to explore land collection schemes, which involve property owners as stakeholders instead of direct acquisition.
This step will facilitate restoring a portion of the property developed in new satellite cities to stakeholders.
The city model has been planned at 2.00 soariamthen village hectares near Tambaram on the southern outskirts of Chennai.
The government plans to form a city model of satellite in Coimbatore, Trichy and Tirunelveli as well.
While so that so that it can be the first project to be taken under the scheme of land collection, the draft rules for soil collection policies have not been told even though they were released last year.
Official sources say landowners offering their land for projects will be made part of the project and they will regain some of their land as a progress in the city.
“It can be in a ratio of at least 50% of the land provided by landlords,” said a housing official and urban development.
Also, direct acquisition of land is no longer a decent choice because it requires payment of 2.5 times the value of the land market as compensation.
In addition, several land parcels were obtained for satellite cities and housing plot projects in the past, including those in Thirumazhisai, mired in litigation even though they were obtained a few decades ago.
Real estate sector experts say that land collection schemes operate on the concept of joint ventures for housing projects.
The State Secretary Association of the State of Ramaprabhu said, “When a satellite city was developed by government institutions, it would have a rippling effect in the environment, increasing the prospect of urban development.” The draft rules must be notified earlier, he added.
In 2018, the Tamil Nadu Nadu Law and Planning Planning, 1971, were changed to launch a land collection scheme to acquire land for housing and other infrastructure projects.
It was followed by the draft rules for schemes aimed at increasing public participation released in February 2020.