Rs 37.5 lakh per hectare for Farmland in Maharashtra

February 20, 2007	(1 votes, average: 1 out of 5)  Loading ...
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Reliance Industries, India’s biggest company by market value has again hogged the limelight by offering a whopping amount of Rs 37.5 lakh a hectare to acquire single crop land from farmers to develop special economic zone (SEZ) on outskirts of Mumbai. The company will require paying a ballpark figure of Rs. 3,750 crore for the total land acquisition.

What has taken aback everyone is that the company is offering Rs. 25 lakh a hectare for land under cultivation and Rs. 12.5 lakh per hectare if the farmer does not want the land offered by the company at an adjacent site. Apart from this, a member of each 17,000 families, whose land is acquired will be given free vocational and technical education. A minimum of Rs. 60 per day will be offered as stipend to the trainee. In case, the land owner does not opt for the training, he will be entitled to Rs. 3 lakh as one time compensation.

The land price offered by the company is over 10 times more than what the state government has offered for land transactions in the area, say company’s officials. Contrary to this, rumors say that the actual value of land in URAN is much higher than what has been offered.

According to a source, Maharashtra Government Agency City and Industrial Development Corporation had sold land plot in the Dronagiri area in Uran for Rs. 3 crore – 5.5 crore per acre. The transaction had been done through a public tender.

“It is the best package offered in the industry which will become a standard for the similar projects in the region,” says Dilip Chaware, President Corporation of Navi Mumbai SEZ Pvt. Ltd, and other Reliance Projects.

News Published Under:   Mumbai, Special Economic Zones |

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