The cabinet on Monday, December 5, 2016, decides to double the amount of compensation to the owner if the government wants to acquire his immovable property. Star file photo
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The cabinet on Monday, December 5, 2016, decides to double the amount of compensation to the owner if the government wants to acquire his immovable property. Star file photo
The cabinet today decided to double the amount of compensation to the owner if the government wants to acquire his land.
According to the decision, the owners will get compensation three times more whereas they are getting one and a half times more than the property price at present.
Cabinet Secretary Mohammad Shafiul Alam told this to journalists at a press briefing after the cabinet meeting.
A draft proposal of a law in this regard was produced at the meeting chaired by the Prime Minister Sheikh Hasina at the Secretariat, he said.
The cabinet forwarded the draft law to a parliamentary committee, formed to scrutinise it, with observations on acquiring immovable property on public interest and public purpose and incorporating related High Court instructions.
In the meeting, it was also observed that the committee will be able to co-opt more people if it wants so.
The value of immovable property is determined from the purchase and selling data of such properties in the same area in 12 months, the cabinet secretary said.
Meanwhile, a draft of Palli Sanchay Bank (amendment) Ordinance, 2016 was also approved in the meeting.
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