Things To Know About The Compulsory Land Acquisition
Government acquires land for building new infrastructure projects that are needed for the growth of the economy and nation. They may acquire the whole or part of the land based on the nature of their infrastructure requirements and negotiates a fair price with the landowner for the acquisition. The compensation for the land will be fixed based on the important parameters such as market of the land acquired, any loss that the landowner may face due to the severance, any loose that are attributable to the disturbance the land acquisition cause to the landowner.
There are different types of compensation amount offered to the landowner, which includes the market value of their property, removal costs, stamp duties on the new properties purchased.
What Happens During The Compulsory Land Acquisition Process?
The compulsory land acquisition takes place when the government and the landowner cannot negotiate an equitable settlement price for the land in question. New South Wales Government prefer compulsory land acquisition as a last resort to meet out the proposed new infrastructure projects needed in the interest of the nation building. When the government acquires land by agreement, the authority acquiring the land and owner of the land agrees to the compensation amount to be received by the owner for parting away with the land. In the case of compulsory acquisition of land, the respective Governor appoints a Valuer-General, who acts as the independent statutory officer appointed to supervise the valuation system.
The first formal step in the compulsory land acquisition process involves the acquiring authority sending a proposed acquisition notice to the landowner with a notification to the Valuer-General appointed to oversee the acquisition process. It is the responsibility of the Valuer-General to ensure that the landowners get fair compensation when the land is compulsorily acquired.
Have Sufficient Knowledge Of Relevant Legislation
The value General acts impartial to both the acquiring authority and the landowner and ensures that the transparent process takes place in the determination of the compensation amount.
In case the former landowner is not satisfied with the compensation amount given by the acquiring authority, which is based on the determination of the Valuer-General, the particular owner has rights to lodge a grievance with the Land and Environment Court. The courts need the landowner to present detailed, accurate land valuation report from a trustworthy source
Benefits Of Taking Professional Assistance
Property valuation is a specialized area that requires the expertise and the experience of the seasoned property values in conducting in-depth research on the current and historical market valuations of the land to carry accurate property valuations. Professional companies in property valuation offer comprehensive service in accessing the accurate worth of the property through detailed valuation reports. Also, provide able court legal assistance to the landowner while negotiating with the government in the compulsory land acquisition process. Thus, it is highly recommended for the owners to take help of professional valuers to do their accurate property valuation in the case of compulsory acquisition of their property.