Chandigarh, Aug. 8 -- The UT is looking at acquire nearly 1,750 acres of land in the city's periphery for residential, institutional and commercial development.

The proposed acquisition, estimated to cost around Rs.14,000 crore, is part of a larger pool of 2,585 acres of un-acquired land, out of which, 835 acres has been proposed to be retained as green area. Of the total area to be acquired, 555 acres has been earmarked for institutional development while another 480 acres is categorised for residential and commercial use, according to sources.

The Chandigarh Housing Board (CHB) is likely to undertake the acquisition in phases under the Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act...