Govt panel suggests Rs 2.70 cr compensation/acre for Devanahalli farmers
Landowners who decline cash compensation can instead opt for 10,781 sq ft of developed industrial land per acre acquired.
PTI
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Officials called it the highest payout ever offered in the region (Rpresentative Image)
Bengaluru, 24 June
The Land Price Determination Advisory Committee of the Karnataka government on Wednesday recommended a compensation of Rs 2.70 crore per acre to the KIADB for 120 acres of land in Devanahalli near Bengaluru, where landowners have voluntarily agreed to part with their land for industrial development.
The decision was taken at a joint meeting of officials and landowners held at Aravinda Bhavan in Bengaluru on Wednesday, which was presided over by Karnataka Industrial Areas Development Board Special Deputy Commissioner AN Raghunandan, an official statement said.
Raghunandan said the recommendation would now be placed before the KIADB Board for approval.
He added that landowners who do not wish to receive monetary compensation would have the option of obtaining 10,781 square feet of developed land in the industrial area for every acre of agricultural land acquired.
He noted that the farmers had voluntarily consented to the acquisition of their land and that a final notification under the provisions of the KIADB Act had been issued on the 16th of this month and published in the official gazette.
He further stated that the compensation recommended is the highest ever offered in the Devanahalli region and reflects the government's commitment to ensuring fair compensation for the affected farmers.
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