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Compensation under the Karnataka Industrial Development Policy 20092014

The exemption of stamp duty and Concessional Registration Charges


This incentive will be applicable for the land transferred by KIADB to land
owners as compensation for the acquired land.
The policy will also have a provision to take the land owners as a partner
in the project by offering certain equity to them. Alternatively land
owners will be offered adequate compensation based on the set
guidelines.
The land owners except in case of acquisition for Single Unit Complex and
infrastructural projects will have an option to get part of the developed
and developing land on the location by KIADB in lieu of specified
compensation.
Land owners are free to use this portion of land for residential /
commercial / industrial purposes subject to the prior approval of KIADB.
Further, plan for building construction requires approval by the KIADB.
Appropriate clause will be in place in the policy to ensure that the land is
developed within the stipulated time frame and the project is
implemented as per the declared schedule.
Available at http://www.kiadb.in
The following are the different laws governing land acquisition in the State of
Karnataka: of which the most important is
1. Acquisition of land for Grant of House Sites Act, 1972 (Karnataka Act
18 of 1973) and Acquisition of Land for Grant of House Sites Rules,
1973.
- If the State Government requires any land for the purpose of providing house
sites to the weaker sections of people who are houseless, the State Government
may, by notification, give notice of its intention to acquire such land. 30 days are
given to the owners to object and a ruling made. Therein after whatever decision
is made will be kept.
Amount is payable as per provisions in the act.
Where the amount has ]to be determined by agreement between
the State
Government and the person whose land has been acquired, it shall
be paid in accordance with such agreement.
Where no such agreement can be reached, the State Government
shall refer the case to the Deputy Commissioner for determination
of the amount to be paid for such acquisition as also the person or
persons to whom such amount shall be paid.
2. Petroleum and Minerals Pipelines (Acquisition of Right of User in Land)
Act, 1962 (Central Act of 50/1962).
3. Requisitioning and Acquisition of Immovable Property Act, 1952 (Central
Act 30/1952).
4. State Acquisition of Lands for Lands for Union Purposes Validation Act,
1954 (Central Act 23 of 1954).
5. The Karnataka Industries (Facilitation) Act, 2002.
6. The Karnataka Industries (Facilitation) Rules, 2002.

7. The Karnataka Land Reforms Act, 1961 (Karnataka Act No. 10 of 1962)
8. The Karnataka Urban Development Authorities Act, 1987
9. The Land Acquisition Act, 1894 (Central Act 1 of 1894) adopted by the
SOK with certain amendments.
10. The Land Acquisition (Karnataka) Rules, 1965.
11. The Land Acquisition (Companies) (Karnataka) Rules, 1973.
12. The Land Acquisition Mines Act, 1885 (Central Act 18 of 1885).

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