In J & K, Land Prices Double: Govt Wants Real Estate Brokering Locked

Players on ground insist it is inconsequential. But the issuance of an order literally banning land brokers and sealing their offices indicates the negative tendencies in J & K's policy making coterie.

This past weekend, Srinagar deputy commissioner (collector) issued an executive order directing "seizing the offices of land brokers operating in the Srinagar and around" because the government received "large scale complaints regarding sale of migrant property."

It has also been alleged, an official statement announcing the decision said, that "land brokers in convenience with unscrupulous elements, some Revenue officials are managing change of land use especially on either side of National Highway."

Brokering  Established Business..!

Builder Mr. Reyaz Ahmad said, "It is ridiculous at the best. Brokering is an established business worldwide including India but if J&K has inadequate laws, practicing professionals can not be blamed for that.The order might help government target some individuals, it will not trigger results that will make the sector fall".

Mr. Baseer A Khan,  Srinagar collector, said, "We have complaints that a single plot was old four times by the brokers and in many cases, the ownership papers are fake & then there are some temple properties also.Our officers will seize records, scrutinize them & fix responsibility.We have asked authorities in Budgam, and Baramulla districts also to implement the order"

Aagrl Land into Housing..!

Divisional Commissioner Mr. Asgar Samoon, the top policymaker behind the idea, said. "The move is aimed at discouraging arbitrary conversion of land use especially agricultural land into housing areas. A law that the assembly discussed is currently with a select committee. Such executive orders will help them to regular the market till the law comes into force. We are currently invoking section 133(a) of the land revenue act to intervene".

Given the status of J & K as a state with the lowest per family land holding, the land rates have actually gone through the roof. In villages where every inch is under apple cultivation, orchard sales are like high end palace auctions where the highest bidder gets it as no rates exist.

Land Prices Double..!

In Srinagar that is spreading far and wide, land prices double every fourth year. The cultural disdain for vertical housing structures & categorization of the area in seismic zone-V are adding to the pressure on land as every new family wants its own piece of land.

A senior officer in state' finance ministry said, ''The order is inconsequential because the market is better. For the first time J & K recorded a stamp duty of  Rs 150 crore in 2011-12 which is 116%  growth over the preceding year. The order might discourage certain elements but it would not stop the genuine transactions."

Share: