Land reacquisition planned | india | Hindustan Times
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Land reacquisition planned

india Updated: Jul 24, 2011 00:15 IST
Kapil Datta
Kapil Datta
Hindustan Times
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The Greater Noida Industrial Development Authority (GNIDA) has planned reacquisition of Noida Extension villages land under the new rehabilitation policy announced by the state government.

The authority will start the reacquisition process soon. It will put additional burden of Rs 600 crore on the authority, if farmers agree to give land under the new policy which has been endorsed by majority of land owners. "Land would be acquired under the new rehabilitation policy. We are holding talks with farmers. Majority of them agree to the new policy," said GNIDA CEO Rama Raman.

On Saturday, officials started the process of handing over Shahberi land to farmers as per the Supreme Court order.
Farmers have been asked to return the money they received as land compensation within 30 days. The land will be given back to them after making necessary changes in land records.

Farmers have also expressed willingness to renegotiate the price of their acquired land. "Farmers want the land in the shape in which it was given to the authority. We will not accept the land which is unfit for agriculture pupose," said Dusyant Nagar, a farmer leader.

"However, in view of the investors' problem we have kept settlement option open. We want proper price of our land and the amount can be fixed by negotiation," said Nagar.

According to the new policy, the land owners whose land has been acquired shall be given annuity of Rs 23,000 per acre annually in addition to the compensation amount till 33 years. The annuity shall be increased by Rs 800 per acre annually.

Those who do not want to take annuity shall be given Rs 2.76 lakh per acre in lump sum as rehabilitation subsidy.
In case the land is acquired for a company, the land owner can opt for shares in the company equivalent to 25% amount of the lump sum subsidy.