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AP devises unique formula to beat land shortages
Posted by Pradeep Sadanapalli | July 29, 2006 | 271 views
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Loading ...The AP Government has cleared plans for 14 SEZs due to come up near Hyderabad. It expects investment of over USD 10 billion here. But it also needs 22,000 acres of land to realise this ambitious plan. Now it might have hit on a solution.
The government will give landowners, who are farmers, two choices. First, a farmer can become a revenue shareholder in the finished project. Alternatively, he can have a portion of the land returned to him after the government develops it. This includes building roads, water, drainage and electricity. This would boost the value of the land, especially when it includes plans for mega projects.
Chief Minister YSR Reddy says,” In an around Hyderabad quite a few SEZs are being planned. Besides, ONCG is planning a SEZ in Kakinada for 10,000 acres, Nelur and Chitur districts will also have SEZs. So all these areas will come up.”
A joint development model will first be used in Uppal, outside Hyderabad. The Hyderabad Urban Development Authority is acquiring 830 acres of land here. Farmers will be given 50% partnership in the proposed project.
The value of land in this region has appreciated 12 times in the past year since the government began to show interest. It’s likely then that farmers who until now were opposed to the governments development plans will become much more enthusiastic. That’s a solution that might please everybody.
Source:
www.moneycontrol.com
Topics: SEZ, Govt In Action, Real Estate |
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