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Landlosers to get price of cost escalationBy Riti, Section Real Estate
A new cash crop is on the way for farmers who have had to give up their land for industrial or township projects, resulting in appreciation of value of the plots.
The Buddhadeb Bhattacharjee government is planning to pass on a portion of the price appreciation to farmers through a compensation and rehabilitation policy. This could be one way to pacify farmers in Singur or elsewhere, who are unwilling to take compensation cheques calculated at existing prices. The West Bengal Industrial Development Corporation offered Rs 9 to Rs 12 lakh an acre to farmers in Singur for Tata's small car factory. However, land prices in the area have increased by more than 400% since the acquisition notification was issued. In Singur, land is now selling for Rs 50 lakh an acre. The commerce and industries department is planning to return the excess land, if any, and pass on the capital gains to the farmer. The proposal may find a place in the new compensation and rehabilitation policy for landlosers that the chief minister is likely to announce in the Assembly soon. Elaborating on the proposal, commerce and industries minister Nirupam Sen said: "For instance, we might acquire 350 acre for a project where the real requirement is 300 acre. The additional 50 acre will be developed along with the project and later returned to farmers who gave the land." He added: "The government is contemplating a mechanism to plough back the price appreciation after developing the surplus land and distribute it among the farmers concerned." Sen's proposal is unique because the Compensation and Rehabilitation Bill pending with the Union government does not have any such provision. The proposal sounds practical compared to suggestions that the government should make a progressive calculation of land appreciation rates over a period of time and increase the compensation package for landlosers.
"It is not possible to ascertain the value of land after an industry comes up in the area. We have seen how land prices have soared in Singur to Rs 50 lakh from Rs 12 lakh an acre during the last one year. This can be a reason for farmers to feel let down. What we can do is to acquire 5% to 10% more land than required for the project and give back the surplus land at high prices to the farmers or cash," Sen said.
The idea, once implemented, might take the wind out of Mamata Banerjee's sail, who has been insisting that the government return the land to unwilling farmers in Singur. The government might also offer stalls in business estates coming up in the area, for free. "Landlosers might do some business there. If they are not interested, they can rent out the stalls. We want to ensure that they have a steady monthly income," Sen said. BUMPER CROP The government is mulling a mechanism to plough back the price appreciation after developing the surplus land and distribute it among the farmers concerned.
The government might also offer stalls in business estates coming up in the area, for free. Source:The Times Of India July25th,2008.
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