Bangalore Metro Phase-II Project Property owner wants an increase in compensation

BMRCL needs to acquire nearly 300 acres for its 72.1 km Phase-II and the compensation amount expected to be handed over for it has been fixed at around Rs 6,293 crore.

0
885
Bangalore Metro Phase II
Bangalore Metro Phase II

BENGALURU (Metro Rail News): The property owner wants an increase in compensation for land handed over for Phase II of the Bangalore Metro Rail Corporation Limited (BMRCL). The acquisition of properties for infrastructure work an easy affair under the Land Acquisition Act 2013. However, some property owners are approaching either the court or the BMRCL in this connection.

Although The compensation given for Bangalore Metro Phase-I acquired land was 30 percent of the land cost going by the prevailing guidance value and the compensation provided in Phase-II is 100 percent of the land value. BMRCL needs to acquire nearly 300 acres for its 72.1 km Phase-II and the compensation amount expected to be handed over for it has been fixed at around Rs 6,293 crore.

“We presently provide Rs 7,000 per square foot for residential land and Rs 9,800 per square foot for commercial properties. This is based on the guidance value given by the Revenue Department at the time the preliminary notification for land acquisition is issued. In addition to that, an annual interest of 12% is paid on the amount until the full compensation is handed over.” said M S Channappa Goudar, GM, Land Acquisitions, BMRCL. The compensation is paid through the Karnataka Industrial Areas Development Board (KIADB).

The Land Acquisition office of BMRCL sees a beeline of owners pressing their case for increased compensation for their property. we found one family asking Rs 15,000 per square foot for parting with their land for Hebbagodi depot while another family whose land is required for the R V Road-Bommasandra Line wanted the 2017 guidance value to be followed.

“We need to go ahead with the acquisition process. We deposit the amount finalized by us in the court and it is up to that handing over land to collect it or file a case for more compensation,” Goudar said.

Among the few who have filed a writ petition against BMRCL for more compensation is the owner of Kavya Petro Park at Doddenakundi. BMRCL has acquired 71.16 square meters of the land of M S Jagannath by paying Rs 82 lakh for the property, said an official.

“As per the sale deed, the total land is valued at Rs 31,30,000 only. The owner now wants over Rs 3 crore (3,30,77,536) for his property and has gone to court,” the official added.

13th International Railway Equipment Exhibition (IREE) 2019

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.