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Govt. had revoked the Urban Land Ceiling Act, 1976. In a joint conference which was held in Mantralaya, the Chief Minister specified that his Govt. will make necessities to cancel the Act. He also told that, as part of prerequisites of Jawaharlal Nehru National Urban Renewal Mission cancelling the Act will release almost 500 hectares of the property in the state. Officers of the UDD had alleged that realty costs in Mumbai will go downward by 40% once the Act is withdrawn. Govt. had purchased 2,066 hectares of property from nonpayer 2 years back beneath the Act, comprising 433 hectares in Mumbai, 271 Pune, 354 Thane, 361 Nagpur, 377 Ulhasnagar and 183 in Nashik. State had bought in the residential system from November 1st and people had taken it into consideration before slipping the Act.
CPI leaders had claimed that the breakdown of the Act was placed in the connection of builders, government, and property-owners and builders. Prakash Reddy of CPI had told that, “At least 30,000 acres of property in Mumbai pricing Rs. 90,000 Crores might be released if the Govt. gears the Act. Which means over half of the debt of the state can be paid off with the money and more than 300 property-owners in Mumbai and in borders had held the property which was over 500 Sq.mtr and the limit for holding most property as per the Act. If Govt. strived to cancel the Act by force then they would have gathered people support to brawl against the move.”
Source: NIMMA BENGALURU

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