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In the United States, the purchase of rural land or raw acreage is generally for investment purposes, although some buyers intend to build a home and reside there. Often without standard utility services provided by a metropolitan municipality readily available, individuals have the responsibility to install methods of achieving a regulated standard of living.
Previously the allowed density was one house per 5 acres (20,000 m 2). The County Council compensated the rural property owners for their loss of developability, through the creation of a legal property right called a Transferable Development Right (TDR). The council assigned one TDR for every five acres of rural land in the designated area.
This property was originally part of a larger parcel, one mile wide and five miles long, that was sold in 1662 by the Niantic Sachem Wanumachon in a historic land transaction known as the Stanton Purchase. Joseph Clarke (1642—1727) purchased approximately 200 acres of the Stanton Purchase land the following year.
According to Wickeri and Kalhan, land ownership can be a critical source of capital, financial security, food, water, shelter, and resources. [3] The UN Global Land Tool organisation has found that rural landlessness is a strong predictor of poverty and hunger, [4] and negatively impacts Empowerment and the realisation of Human rights. [5]
The procedure offers landowners financial incentives or bonuses for the conservation and maintenance of the environmental, heritage or agricultural values of their land. TDR is based on the concept that with land ownership comes the right of use of land, or land development. These land-based development rights can in some jurisdictions be used ...
Thus, for clarity and as an example, if 1000 acres of rural land is to be acquired for a project, with market price of ₹2,25,000 per acre (US$5000 per acre), 100 families claim to be land owners, and 5 families per acre claim their rights as livelihood losers under the proposed LARR 2011 Bill, the total cost to acquire the 1000 acre would be
Since all land is owned either collectively or by the state, [32] expropriation of rural land only requires the withdrawal of land use rights for the reason of "public interest." The definition of public interest is intentionally vague, and a general list of such interests has been expounded in an attempt to define what it means.
Rural areas in the United States, often referred to as rural America, [2] consists of approximately 97% of the United States' land area. An estimated 60 million people, or one in five residents (17.9% of the total U.S. population ), live in rural America.