What is ULC Act in Maharashtra?
The ULC Act was enacted by the Parliament of India in the year 1976 with a laudable object to inter alia impose ceiling on the holding of vacant land; to prevent concentration of urban properties in the hand of few persons and to ensure equitable distribution/ utilization of urban vacant lands.
What is land ceiling limit in India?
In 2013, the Centre’s National Taskforce on Land Reforms, created at the initiative of the Ministry of Rural Development (MoRD), helped frame a draft National Land Reforms Policy that suggested a uniform ceiling of between five and 15 acres across states, to be decided based on the quality and productivity of …
What is ceiling land in UP?
according to the land revenue act 12.5 acre is the statuary limit of land in UP. above this limit comes under ceiling.
When was ULC Act repealed Maharashtra?
the Maharashtra government repealed the Urban Land (Ceiling and Regulation) Act, 1976 on November 29 saying “the basic purpose of the act was not fulfilled”. The state government was under severe pressure from the centre to repeal the act to avail funds under the Jawaharlal Nehru National Urban Renewal Mission.
What is ULC clearance?
The Urban Land (Ceiling and Regulation) Act, 1976 (“ULC Act”) was enacted to prevent concentration of urban properties in the hands of a few and to ensure equitable distribution / utilization of urban vacant lands. The ULC Act provided for ceiling on holding of vacant land in urban agglomerations of the State.
What is the meaning of ULC?
An unlimited liability corporation is sort of a hybrid: It is an incorporated entity with unlimited liability. The ULC shelters shareholders from liability in most circumstances, with one major exception: upon liquidation of the company. If that happens, shareholders become liable for the debts of the company.
How many acres of land Can a person own in India?
a) If a person is an adult unmarried or a family consists of a sole surviving member, 5 standard acres subject to a maximum of seven-and-a-half acres. b) For a family of two or more family members but no more than five members, 10 standard acres and up to a maximum of 15 acres.
How many acres of land can a company own in India?
15 acre
Also, companies and organisations can hold up to a maximum of 15 acre and for holding more than this limit, it should get exemption under section 81(3) of KLR Act.
What does ULC mean?
What is surplus land?
Surplus land is land that is not currently needed to support the existing improvement. However, it cannot be separated from the property or sold off. Surplus land does not have an independent highest and best use and may or may not contribute value to the improved parcel.
What is the full form of ULC?
Unlimited Liability Corporation (ULC)
What is ULC order?
What is the value of Section 10 (5) of u l c Act?
Where the lands area proposed to be acquired under section 10 (5) of the Act. Under the provision of U L C Act, the amount payable is Rs. 10/- per Sq. mt. in Category ‘A’ or ‘B’ with a maximum of Rs. 2 Lakhs. In case the Act is abolished the value of the surplus land shall be as prevalent in the vicinity, which will be considerably higher.
What is the value of surplus land under ULC Act?
Under the provision of U L C Act, the amount payable is Rs. 10/- per Sq. mt. in Category ‘A’ or ‘B’ with a maximum of Rs. 2 Lakhs. In case the Act is abolished the value of the surplus land shall be as prevalent in the vicinity, which will be considerably higher.
What is Section 10(b) of the 34 Act?
Section 10 (b) prohibits fraud in connection with the purchase and sale of any security. This provision applies whether or not the security is registered under the 34 Act. The SEC adopted Rule 10 (b) (5) to implement section 10 (b). Together, these anti-fraud provisions are the basis for most litigation under the 34 Act.
What happens if ULC act is abolished?
In case the U L C Act is abolished the large stretches of the lands may come forward for Schemes.