Noida authorities to acquire land directly from farmers
13 Aug 2014 5:39 AM IST
In order to boost real estate sector and to stop expansion of illegal colonies in and around the city, the Noida and Greater Noida Industrial development Authority have announced to purchase land directly from the farmers on a fix rates.
The authorities claimed that the move will also help in minimising irregularities while purchasing land by realtors and other bodies as such cases are on sudden rise these days. Introducing the new formula of land acquisition, authority officials said that this will not only help in controlling surge of illegal colonies but also help in minimising farmers’ woes.
The decision will be useful for various purposes. ‘As cases of irregularities, while acquiring the land has been witnessed very frequently, the new formula will help in curbing it up to a maximum extent’, said Rama Raman, chairman and CEO of Noida and Greater Noida authorities. He said that in Noida, authority will give Rs 3,960 per square meter to the farmers who want to sell their land directly to them.
‘Five per cent of the plots developed on the sold land will be given back to the farmers. If any farmer does not want the developed land then he will be paid Rs 5,060 per square meter. On the other hand, the Greater Noida Authority informed that it will buy land from farmers at Rs 2,500 per square meter. But it will give six per cent of the developed land on minimum 40 square meters to maximum 2,500 square meters plots to the farmers.
The farmers, not interested in accepting the developed land, would be given an additional amount Rs 1,000 per square meter. It will come into effect from 1 August, said Raman.
The authorities claimed that the move will also help in minimising irregularities while purchasing land by realtors and other bodies as such cases are on sudden rise these days. Introducing the new formula of land acquisition, authority officials said that this will not only help in controlling surge of illegal colonies but also help in minimising farmers’ woes.
The decision will be useful for various purposes. ‘As cases of irregularities, while acquiring the land has been witnessed very frequently, the new formula will help in curbing it up to a maximum extent’, said Rama Raman, chairman and CEO of Noida and Greater Noida authorities. He said that in Noida, authority will give Rs 3,960 per square meter to the farmers who want to sell their land directly to them.
‘Five per cent of the plots developed on the sold land will be given back to the farmers. If any farmer does not want the developed land then he will be paid Rs 5,060 per square meter. On the other hand, the Greater Noida Authority informed that it will buy land from farmers at Rs 2,500 per square meter. But it will give six per cent of the developed land on minimum 40 square meters to maximum 2,500 square meters plots to the farmers.
The farmers, not interested in accepting the developed land, would be given an additional amount Rs 1,000 per square meter. It will come into effect from 1 August, said Raman.
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