Veeri says compensation provided as per norms
Minister for Revenue, Parliamentary Affairs, Hajj and Auqaf Abdul Rehman Veeri, today said that there was no provision for providing four times and two times more compensation in rural and urban areas of the market value for the land acquired for construction of Ring Road in Jammu and Srinagar.
The Minister said the future potential value of the land cannot be assessed under the Land Acquisition Act as it does not permit doing so.
He said under the Land Acquisition Act, it is only the prevailing value of land which can be provided to the land owners.
He said the Collectors normally stick to the rates notified for stamp duty purposes, which are also revised annually.
“Yet, in genuine cases, the rates have also been awarded beyond the stamp value”. Veeri further stated that the land owners have got remedy available under section 18 of the Act and are free to seek reference under the said section in case they are aggrieved of the alleged inadequacy of rates awarded.