Land bank
Land is
very scarce commodity and it is the platform for different
sectors of development. In order to overcome this issue and make
land available for development GCDA has started this concept of
creating a land bank.
Under this concept land owners can deposit land with GCDA for a
particular period. GCDA will develop and sell the property to
private persons or entrepreneurs at a value fixed and agreed
mutually. Ten percentage of the selling price must be given to
GCDA for its development fund.
In
addition to this the money invested for development works must
be paid to GCDA or land of value must be given in favour of
GCDA.Land can be made available for large scale developments and
the benefit of development can be transferred to the original
land owners in this method. In this scheme land is also
purchased by GCDA through negotiated purchase.
