Amid scarcity of developed plots in the city, the Noida authority is considering cash payments to farmers in lieu of allotting developed plots.
Thousands of farmers from 16 villages in Noida, whose land was acquired for urban development after 1997, were promised 64% hiked compensation and developed plots equal to 5% of the land acquired.
According to estimates, officials said, the authority will have to cough up about Rs 2,000 crore for this.
“If we give developed plots to farmers in 16 villages, we would need 250 acres of vacant land in Noida, which we do not have. Giving money in lieu of developed plots is the only way out,” said an authority official, requesting anonymity.
The authority had released Rs 450 crore to pay land compensation in March to pacify farmers.
Now, to raise the required funds, the authority is planning to increase circle rates.
“By increasing the circle rate, the Noida authority would collect enough funds to distribute among farmers. Also, it will not disturb the authority’s budget for development works proposed in Noida,” an authority official said.
Since all top officials, including chief executive officer (CEO) Rama Raman, will return from Lucknow on April 2, the proposal to hike circle rates will be discussed soon.
“Once the CEO returns, he will work on the proposal. If all goes well, the authority would raise funds to be disbursed in lieu of developed plots,” said official.
Farmers, however, are not very happy.
“The authority can’t fool us. If the compensation paid would be at par with existing market rates, we will accept it. Else, we will push for developed plots only,” said Ram Nivas Yadav of Basi village.