Land Acquisition and Re-use for Urban Development Shubhashis

Land Acquisition and Re-use for Urban Development Shubhashis

Land Acquisition and Re-use for Urban Development Shubhashis Gangopadhyay Duke-SNU Urbanization Workshop Duke University, October 11-12, 2014 Work (a) Peterson and Thawakar

(b) McIvor (c) Peterson (d) Gangopadhyay 2 The Issues Three main issues:

(a) City infrastructure, requiring land (b) Reorganization of space in old cities (c) Acquiring land for new cities 3 City Development Old cities: Surplus and unused public lands

Rationalization of public holdings Acquisition of private land for infrastructure New cities Acquisition of rural lands 4 Largest Central Landowners Defense

Indian Railways: 43,000 ha as unnecessary AAI: 20,400 ha of highvalue land around airports 13 Major Port Trusts: 100,000 ha in key urban areas 5 Land Scams The Adarsh Cooperative Housing Society

6stories; for war veterans and Kargil widows 31stories; luxury apartments 12 acres of prime defense land around Srinagar airport Kandla Port Trust 6 Managing Surplus Land: Canada - 1 Canada Lands Company

One shareholder --- the government Operates at arms length (from government) As a private concern, commercially run Each department justifies land ownership, rest is surplus Surplus land is either strategic or routine CLC buys strategic surplus land, develops and sells 7

Managing Surplus Land: Canada - 2 What is strategic surplus land? Large size could have adverse effects on local land market Significant potential for value creation PPP could generate large social and economic benefits Sensitive policy issues associated with property

8 Managing Surplus Land: Canada - 3 300 employees (for 3 entities; CLC has < 100 employees) Parent company has one employee --- the CEO Has an independent board Answerable to Parliament through Minister of Public Works and Government Services Canada

Must advance (local) government policies on urban development 9 Kandla Port Trust Largest Indian port (in land area and volume) Leased out salt-pan land Law

Rent should be 6 per cent of capital value 2 per cent annual escalation and 8 per cent discount rate Of course not followed! Why? Chairman of the Trust had discretion 10 Resolution of Kandla Port Trust Scam

Centre for Public Interest Litigation --- Delhi High Court Court got into the act Average rent per acre (pre-ruling) INR 169 Average rent per acre (post-ruling) INR 23,249 Increase of 11,970 per cent Total rent bill increased from INR 2.71 million to 218.63 million Discretionary clause was taken out 11

Magarpatta Mr. Magar owns 40 per cent of 400 acres 120 families of 800 people SPV: Magarpatta Township Development and Construction Company Ltd. Proportion of shares by proportionate value of land Centre-piece: Cybercity Magarpatta 10 towers 4 m ft2 space for a workforce of 40,000

12,500 residential units for 50,000 people 25-acre garden, ICSE school, a 200-bed hospital 2 playgrounds across seven acres 1 million ft2 of commercial space for retail outlets 12 Coordination Coordination

Coordination Why No Free Markets? Transaction costs Social costs of disparate bargaining powers Hold-up

16 A Generalization 1 2 A B

0 + 1 2 0 1

0 1

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