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The Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act, 2013 (also Land Acquisition Act, 2013 or LARR Act [1] or RFCTLARR Act [2]) is an Act of Indian Parliament that regulates land acquisition and lays down the procedure and rules for granting compensation, rehabilitation and resettlement to the affected persons in India.
The first Land Development Bank was started at Jhang in Punjab in 1920. However, real progress began when the land development bank was established in Chennai in 1929. [2] Not only that, land banks, land mortgage banks, agriculture banks, agriculture development banks are now called land development banks in modern world.
CERSAI's was created to maintain a central registry of mortgages, where it contains the mortgage taken on a property along with certain details. CERSAI's mandate was extended in 2012 to start registration of security interests created through assignment of accounts receivables or factoring , through the passage of the Factoring Act, 2012.
Joint liability groups are a concept established in India in 2014 by the rural development agency, National Bank for Agriculture and Rural Development (NABARD) to provide institutional credit to small farmers. [1] [2]
This results in steep rise in the land prices, resulting in massive gains for the builders, opportunity cost loss to the farmers and land tax revenue loss to the government. [7] Robert Vadra and DLF were the beneficiary builders in Hooda's regime. [1] [3] [4] vadra has bought properties using unsecured loans from DLF. [8]
The company provided housing finance to individuals and corporations for purchase/construction of residential houses. [13] [17] The type of loans offered by company included loans for purchase and construction of a residential units, purchase of land, home improvement loans, home extension loans, non-residential premise loans for professionals and loan against property and repayment options ...
In FY 2012–13, Mahindra Rural Housing Finance Limited (MRHFL) disbursed loans aggregating to ₹432.9 crore, up from ₹266.8 crore in the previous year. The profit after tax for 2012-13 stood at ₹222.3 crore against ₹11.9 crore in the previous year. The outstanding loan portfolio, as on 31 March 2013, stood at ₹879.5 crore. [15]
Debt bondage in India is most prevalent in agricultural areas, with 80% of workers in the debt bondage system being involved in agriculture. [1] [5] Many farmers take out loans to be able to work on land, and landlords generate high amounts of profit by paying these workers less than minimum wage. [5]