The Punjab Cabinet today approved a modification in the Land Pooling Policy-2013 in order to create Land Banks for the proposed Aero City Expansion Project of the Greater Mohali Area Development Authority (GMADA), with a minimum of 15% compensation to be given to the landowners.
This decision was taken in the Cabinet meeting chaired by Chief Minister Captain Amarinder Singh here at his official residence this evening, said an official spokesperson, adding that the modification will help create land banks for urban estate through land pooling.
The cabinet decided that higher share of a commercial area could be considered to be given to landowners if they so desired. However, in such cases, they would get a lesser share of a residential area to the tune of 1:3 ratio.
The amendment was mooted after detailed deliberations with the farmers and other stakeholders in the vicinity of Aero City Mohali, where 70-80 percent of the landowners were willing to give up their land for the proposed Aero City Expansion project for land pooling.
A small percentage of the farmers demanded cash compensation to purchase land for cultivation in other areas, while a few farmers requested to trigger Land Acquisition Act and issue notification and award as per law so that they are not harassed by the Income Tax Department.