The solatium in land acquisition
refers to the compensation or additional payment paid to landowners or affected parties whose land is acquired by the government for public projects.
It is governed by the Land Acquisition Act, of 1894, or the Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation, and Resettlement Act, 2013 (often referred to as the LARR Act).
Its purpose is to provide compensation to landowners beyond the market value of the acquired land.
It is designed to compensate the landowners whose distress has been caused by the forced acquisition of their land. The land is acquired for public projects such as infrastructure development, industrial expansion, or other government initiatives.
Key points regarding the
Solatium Land Acquisition Act
include:
The calculation of the specific percentage of the market value depends on the applicable land acquisition law.
In the LARR Act, solatium is set at 100% of the market value of the land being acquired.
Solatium also compensates landowners for the emotional and financial distress caused by the loss of their property and livelihood.
The solatium payment is distributed by the government authorities responsible for land acquisition.
Hope you have understood the
meaning of solatium in land acquisition
.
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What is Solatium in Land Acquisition ?
Pragati Sharma
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2023-09-15T14:41:39+00:00 2023-09-28T15:29:04+00:00Comment
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