The rural development ministry, on Tuesday, stated it can help the government in recognizing the idle properties or land parcels lying with ministries while fixing a base cost for monetisation of such assets. This comes following a budget plan announcement by financing minister Nirmala Sitharaman on monetising the surplus land with federal government ministries, departments and other public sector business.
“The rural advancement ministry can play a crucial role in identification of surplus federal government land, establishing the market worth of land and transfer of ownership of land,” the ministry stated in a statement.
Para 89 of the budget speech had said the main focus will be to recognize the non-core assets that mostly consist of surplus land with the federal government ministries, departments, public sector undertakings and afterwards adopt the treatment of generating income from the land with making use of special function car (SPV ). According to the declaration, the department is maintaining and constantly updating the land records database of the states/UTs in a detailed system. This includes info associated to more than 90% villages (5.90 lakhs villages versus 6.55 lakhs villages) records of which are being maintained by the rural development ministry, it said.”Therefore, the department can assist the SPV to determine the land which is not utilized by the concerned department,” it said.The ministry is of the view that in order to monetize the surplus land available with the federal government, it would be mandatory that a minimum base rate for the worth of the land may be established.”Considering that it will be difficult for the SPV to determine the actual market value of the land scattered throughout the nation, the rural advancement department can assist them to determine the minimum base rate needed for generating income from the surplus federal government land,”it proposed.Further, the ministry stated that as soon as it is important to transfer the land ownership to the requisitioning entities, the Registration Act, 1908, being administered by the ministry can be of enormous assistance. “The transfer of the ownership along with registration can be facilitated centrally by this department utilizing the proper arrangements of the Act,” it added.