{"id":174260,"date":"2022-03-14T20:50:30","date_gmt":"2022-03-14T15:20:30","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=174260"},"modified":"2022-03-14T20:50:30","modified_gmt":"2022-03-14T15:20:30","slug":"monetising-surplus-land-held-by-state-is-a-good-idea-it-needs-to-be-done-with-transparency-sensitivity-to-public-interest","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/monetising-surplus-land-held-by-state-is-a-good-idea-it-needs-to-be-done-with-transparency-sensitivity-to-public-interest\/","title":{"rendered":"Monetising surplus land held by state is a good idea, it needs to be done with transparency, sensitivity to public interest"},"content":{"rendered":"\n

News<\/strong>: Last week, the Union cabinet approved the creation of a <\/span>National Land Monetisation Corporation <\/strong>Mandate<\/strong><\/p>\n\n\n\n
Read more \u2013 A<\/strong>bout National Land Monetisation Corporation<\/strong><\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

It will work to monetise the surplus land holdings of Central Public Sector Enterprises (CPSEs) and other government agencies. It will have a detailed and comprehensive inventory of the state\u2019s land holding.<\/p>\n

Why has the government come up with NLMC?<\/strong><\/h5>\n

First,<\/strong> it will help identify the surplus land<\/strong>. It will give a push for monetising surplus land and also create a database for potential investor<\/strong>s.<\/p>\n

Second,<\/strong> public sector entities hold vast tracts of land that are either unused<\/strong> and underused<\/strong> land. For example, the Indian Railways is estimated to have around 1.25 lakh acres of total vacant land.<\/p>\n

Third,<\/strong> proceeds from the monetisation of these assets will help generate additional resources<\/strong>, boosting government coffers.<\/p>\n

Fourth,<\/strong> it will resolve<\/strong> the issue of the \u201cartificial\u201d scarcity of land<\/strong>, with an increase in the supply of land<\/strong> by auctioning off surplus land. It will depress land prices and thus have a moderating effect on costs of projects.<\/p>\n

What are the challenges in front of NLMC?<\/strong><\/h5>\n

First, <\/strong>the Ministries, departments, and public sector entities may be reluctant to demarcate land parcels as \u201csurplus\u201d. <\/strong><\/p>\n

Second,<\/strong> there will be issues like absence of clear title<\/strong>s, ongoing litigation, and muted investor interest.<\/p>\n

Third,<\/strong> there is the issue of the encroachment of government lands.<\/strong><\/p>\n

Fourth<\/strong>, it raises questions over the management of commons, i.e., whether a public purpose can be better looked after by more effective management of public land by the state.<\/p>\n

What are the suggestions to tackle the challenges?<\/strong><\/h5>\n

Therefore, the separate agency should be housed with professionals with specialised skills that are better suited for this task.<\/p>\n

A \u201cspecialised skills and expertise\u201d in areas such as \u201cmarket research, legal due diligence, valuation, master planning, investment banking and land management\u201d is the need of the hour for land monetization.<\/p>\n

Source: <\/strong>The post is based on an article \u201cMonetising surplus land held by state is a good idea, it needs to be done with transparency, sensitivity to public interest\u201d published in the Indian Express on March 14th, <\/sup>2022.<\/p>\n","protected":false},"excerpt":{"rendered":"

News: Last week, the Union cabinet approved the creation of a National Land Monetisation Corporation Mandate Read more \u2013 About National Land Monetisation Corporation It will work to monetise the surplus land holdings of Central Public Sector Enterprises (CPSEs) and other government agencies. It will have a detailed and comprehensive inventory of the state\u2019s land… Continue reading Monetising surplus land held by state is a good idea, it needs to be done with transparency, sensitivity to public interest<\/span><\/a><\/p>\n","protected":false},"author":10320,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1230,9],"tags":[216,10500],"class_list":["post-174260","post","type-post","status-publish","format-standard","hentry","category-9-pm-daily-articles","category-public","tag-gs-paper-3","tag-indian-express","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":"","cached_date":1704843864},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/174260","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10320"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=174260"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/174260\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=174260"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=174260"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=174260"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}