GOVERNMENT PLANS TO SET UP A NATIONAL LAND MANAGEMENT CORPORATION (NLMC)

GOVERNMENT PLANS TO SET UP A NATIONAL LAND MANAGEMENT CORPORATION (NLMC) 

• NLMC will be set up as a separate authority to manage surplus land assets and land owned by the Centre as well as central public sector enterprises (CPSEs). 
• 'Surplus' land or property are those that are not needed or are not appropriate for the provision of public service for which the agency owning the property is responsible. 
• NLMC will set up a special purpose vehicle (SPV) to pursue land lease or concessions as a primary mode of commercial exploitation. SPV Will 
• Develop model concession agreements for land developments, 
• Raise money from the market backed by land assets, 
• Look after resettlement and rehabilitation of occupiers, 
• Make timed decisions for concession/selling land to avoid disruption to local real estate markets. 
• Need for such body 
• Apart from Railways and Defence, other government departments do not have a specialized organization to handle the commercial development of government land. 
• A separate authority working with various departments can bring effectiveness, transparency, and ensure speedy decisions. 
• Proper utilization of land, a large amount of which acquired by governments remains unused. 

Source: IE