Strategic land monetisation can usher in massive transformation of the urban landscape and contribute to economic development. Elaborate(200 Words)
Refer - Financial Express
Enrich the answer from other sources, if the question demands.
IAS Parliament 4 years
KEY POINTS
· With the central and state governments facing a dearth of revenue streams, the monetisation of assets is a viable option. Monetisation of land is slowly gaining currency as stakeholders are warming up to the idea of unlocking the tremendous benefits of leasing of land.
· Monetisation of land is a viable option for public sector undertakings and urban local bodies. It will not only generate a revenue stream, but also entails several other benefits. gg
· It puts the land to better use. The commercial development of land accelerates the real estate prospects in the vicinity and fuels the demand for social infrastructure such as retail development, banking.
· Land monetisation will enable the retention of land ownership while realising market rent (if the revision of rent is periodic and on agreed principles). It should be a well-thought process, weighing the potential benefits and viability. The experience and future risks should be considered before choosing a suitable tool. Also, infrastructure-serviced land will fetch better value.
· Mass sensitisation and awareness programmes should be organised for the local community to educate them on the benefits of the process. Every land monetisation process should have a commercial aspect to enable the project to be viable and generate revenues.
· The crucial step in the land monetisation process is to map the vacant lands across the country and enlist these in the public domain. This step will ensure transparency and accountability in the process. It warrants leveraging public-private partnerships (PPP).
· The PPP model has emerged as a viable option for development over the past few years, as it combines the best of both entities public interest of the public sector and professionalism and expertise of the private sector.
· The real estate developers and relevant stakeholders in the segment are formidable partners in the process. Partnering with the government not only allows private players to tap new avenues and geographical regions, but also diversify their offerings and generate revenue. It reinforces their role in contributing to urban development and shaping the growth trajectory of the economy.
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Please review my answer
thank you sir
IAS Parliament 4 years
Good attempt. Keep writing.
aswin 4 years
Please review
IAS Parliament 4 years
Try to explain the flowchart with data, which forms the core part of the aswer. Keep Wrting.
Harsh 4 years
Please review
IAS Parliament 4 years
Try to underline key points and include data and reports to support your answer. Keep Writing.
Venkateshwaran R 4 years
Kindly provide feedback.Thank you Sir
IAS Parliament 4 years
Try to explain the flow chart in few points, concept of land monetisation is not required, explain about employmnet opportunities created. Keep Writing.
Venkateshwaran R 4 years
