Land givers strike riches…

Those who gave away their farmlands for Kempegowda Layout have run into some serious wealth.

M Jayanna — a farmer in Kannelli that is now a part of Bangalore Development Authority’s almost-ready Nadaprabhu Kempegowda Layout (KG Layout) — gave up a portion of his fields for the project. A little less than 2 acres for the layout formation was his sacrifice. His compensation package included about Rs 1.4 crore in cash and something more tempting — he got 19 sites of 30×40 ft and two sites of 50×78 ft. In all, 30,418 sq ft in Sector B, II Block of the new layout. Even if he sells these sites at a conservative price of Rs 5,000 per sq ft, Jayanna will easily make around Rs 15 crore.

Bhagyamma from Kommaghatta village also has something solid to take back home after losing nearly 3 acres of her land for the layout. She got back 51,731 sq ft land, which works out to 44 sites! Her neighbour, Lakshmi, has beaten her record though and gets 56 sites (83,312 sq ft) as a part of her compensation package.

Many like Jayanna, Lakshmi and Bhagyamma, who lost 2 acres and upwards for the layout, are stupendously rich today. The compensation (cash and developed land) package given to farmers/land losers for the layout definitely looks promising. Spread across 2,000 acres, the layout has accommodated the first set of land losers — around 277 farmers have been allotted 2,000 sites in Kannelli, Ramasandra, Man­gan­ahalli, Kenchanapura, Kom­maghatta, Kris­hn­asagara and Chellaghatta villages.

According to the compensation package that was finalised in 2010, for an acre of land lost, around Rs 80 lakh was fixed (as per the concurrent market value in 2010) along with 40 per cent of the developed land in the form of sites. For instance, if a farmer’s 1 acre was acquired, he/she would get around 17,400 sq ft in the form of sites.

More than the cash component, its the number of sites that’s bringing in all the wealth. If figures are any indicators, a large number of the 277 property losers who have been allotted sites in the first set are in double-digit figures, ranging from 10 to even 56 sites each, with upwards of 15,000 sq ft area, which will fetch a good value due to booming realty market .

IN COMPARISON

The last layout formed by the BDA in the early 2000 was Arkavathy Layout on Bellary Road. The authority planned 20,000 sites but the project ran into a major controversy due to litigations and denotification of land. The compensation was split into four slabs based on the village location and its proximity to the national highway. The bandwidth was from Rs 11 lakh per acre to Rs 60 lakh per acre. Only around 10,000 sites have been allotted so far.

“Compared to the previous land acquisition processes, this time, the litigations over compensation are far less. More than the money, it is the number of sites that the land losers have got in return, which is a game-changer. By and large, we have tried to relocate the farmers in their own villages, with their choice of site dimensions, barring cases where it was not feasible,” said a senior BDA officer looking after the compensation packages.

Like Jayanna of Kannelli, his neighbour Hanumantharayappa has managed to get 20 sites of 30×40 ft dimensions in the compensation package (23,831 sq ft); H Thimmayya from Kenchanapura has been allotted 21 sites, totalling an area of 26,737 sq ft; D Shivalinge Gowda got 18 sites (27,318 sq ft); Somashekaraiah of Kommaghatta got 28 sites (28,481 sq ft), and Galiga from the same village got 35 sites (62,387 sq ft).

With the demonetisation affecting the realty market, a majority of these land losers have adopted the wait-and-watch policy, until the market picks up and layout development is completed.

Shivarame Gowda, another farmer who was able to get around 25,000 sq ft in the form of 25 sites, is contemplating his next move. “I lost a little more than an acre to the layout and got developed land in return. The officials have obliged and given me the site dimension of my choice, 30×40 ft. This is the best deal as the 1,200 sq ft plots are in demand. Right now, the going rate is around Rs 5,000 per sq ft and once the BDA issues final allotment letters to the site allottees, the prices will soar. I will wait for a year and once the prices pick up, will sell them in phases. The compensation paid is equivalent to the market rates and farmers are by and large happy,” says Gowda, a fifth-generation farmer.

The BDA in its first phase has announced 5,000 site allotments and has finalised the list of allottees. The layout developed between Mysore and Magadi roads on the NICE Road circuit, at an estimated cost of Rs 2,500 crore, is situated around 20 km from central Bengaluru.

Credits Bangalore Mirror

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