The Haryana cabinet ministers on Friday introduced a land pool scheme for land acquired by the state agencies.
As per the scheme, the landowner whose land has been acquired for the development of a residential sector can seek compensation in the form of developed plots from the Haryana Urban Development Authority (Huda).
In the case of land being acquired for developing an industrial estate, the Haryana State Industrial and Infrastructure Development Corporation (HSIIDC) will compensate the person concerned whose land has been acquired.
Else, the landowner can also accept monetary compensation (under provision of the Land Acquisition Act-1894) along with non-statutory benefits under the resettlement and rehabilitation (R&R) policy of the state government.
The scheme states that landowners who opt for developed sites in lieu of compensation will give their consent within four months of the notification under Section 4 of the Act and enter into an agreement within the next two months.
Further, the landowner will be provided a developed residential site in the form of a 1,000 square yard plot and 100 square yard commercial site for each acre which has been acquired.
In cases where the land is less than an acre, the developed sites or plots will be given in proportion to the acquired land.
For every acre acquired for industrial estates, the owner will be given an industrial plot of 1,200 square yard. The allotment of plots will be of standard size as per Huda and HSIIDC norms.
Officials said despite the introduction of minimum floor rates and the R&R policy, people whose land had been acquired were unhappy with the financial returns that they got.