People quote higher price for land plots while applying for loans at banks and financial institutions. They, however, quote significantly lower price at the Land Registration Office while buying or selling the same plot of land.Market price of land plots is significantly higher than the valuation made by valuation committees led by Chief District Officers of concerned districts. The level of acceptance of such valuation is considerably low.
Gopinath Mainali, joint secretary of NPC, said discussions were underway to set standards for making land valuation realistic. A committee formed by the Prime Minister-led National Development Action Committee, three years ago, had concluded that variation in land pricing is the major reason behind problem in land acquisition. The committee had then recommended to the government to come up with a realistic pricing mechanism.
Officials tasked with the responsibility of preparing reference index are studying different factors like land yields, land use, human development index and human poverty index of the districts, frequency of transactions, and population density, among others.
"We will recommend the reference index and push for its implementation by endorsing a guideline," added Mainali.
Speaking at a program on 'National Dissemination Workshop: Land Acquisition, Resettlement, and Rehabilitation Policy for Infrastructure Development Project' in Kathmandu on Monday, Country Director of Nepal Resident Mission of Asian Development Bank Kenichi Yokoyama said that the delay in land acquisition has affected development projects.
Most of the transmission line projects, postal highway project, and fast track road project are some of the projects affected due to problem in land acquisition.
Speaking at the program, former Finance Secretary Yubaraj Bhusal said land valuation varies with different government agencies. He also said provisions in different laws related to land valuation and land acquisition contradict with the Land Acquisition Act. They need to be streamlined, he added.
The government endorsed Land Acquisition, Resettlement, and Rehabilitation Policy for Infrastructure Development Projects 2014 last year, aiming to address problems, including land valuation, and expedite development projects.
Speaking at the program Saroj Basnet, consultant for NPC, said there were many complications in existing land acquisition process.
The government also plans to make necessary amendment to Land Acquisition Act to get rid of problems in land acquisition.
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