Maharashtra Revises Land Acquisition Compensation Formula, Limits 12% Annual Payment Calculation To Base Land Value

Mumbai: The state government has changed the method for calculating the additional 12% annual payment made to landowners during land acquisition, ruling that the amount will now be calculated only on the market value of the land and not after applying the government-prescribed multiplier.Decision Expected To Impact Major Infrastructure ProjectsThe Revenue Department issued a Government Resolution on September 10, replacing...