The 'Requisitioning and Acquisition of Immovable Property (Amendment) Bill, 2017' was introduced by Minister of State for Planning, Programme Implementation and Statistics Rao Inderjit Singh.
It was orginally to be introduced by M Venkaiah Naidu, who resigned as Urban Development Minister yesterday after being nominated as a candidate for the Vice Presidential polls.
The bill seeks to amend the provision to allow the central government to re-issue the notice of acquisition in order to ensure that the property's owner gets an opportunity to be heard.
According to the government, there could be situations that result 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.
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"It is proposed that any enhanced compensation with or without interest awarded by the court or other authority, before the date of commencement of the proposed amendment, shall be subject to the re-issuance of the proposed notice of acquisition and shall be applicable only to the cases of property being acquired for national security and defence purposes," as per the bill's Statement of Objects and Reasons.
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