A group of ‘unlucky’ property owners have approached the Bangalore Metro Rail Corporation Limited (BMRCL) demanding more compensation for the land they are losing for the metro project between Tin Factory area and Mahadevpura police station.
They feel dissatisfied because BMRCL is not considering the market price or the guidance value which was revised just after three days of issuing the preliminary notification. The state government had come out with a preliminary notification on acquisition of properties for the metro project on August 3, 2013. As per the rule, BMRCL pays double the guidance value as on the day of the notification with interest till the day a notice is served to the property owner for possession of the land. When the preliminary notification was issued for acquisition of land on this stretch, the guidance value ranged between Rs 1,200 to Rs 2,000 per square feet. Within three days of issuing the preliminary notification, the state government had revised the guidance value, resulting in increased land value by Rs 2,500 to Rs 4,000 per square foot.
Property owners are not happy with the compensation fixed as per the earlier guidance value. In the requisition to BMRCL, the property owners demanded compensation of Rs 15,000 per square foot, which they feel is the market price.
Under phase II of the project, BMRCL plans to extend the metro line from Baiyappanahalli to Whitefield with a distance of 15.5 kilometers. The BMRCL is spending close to Rs 500 crore to acquire property on the 15.5 km stretch. To acquire the properties between Tin Factory and Mahadevpura police station, BMRCL estimated an expenditure of Rs 11 crore but as per the revised guidance value, it would cost Rs 14 crore more.
Speaking to media, MD of BMRCL Pradeep Singh Kharola said, “We have received their requisition and we are examining it. We will take a decision as per law.”
The BMRCL has already issued a final notification for acquisition on the entire stretch. BMRCL is expected to complete acquisition of land in two to three months.
An official of BMRCL said, “This is a rare situation. Till now individual owners used to approach BMRCL with a requisition to increase compensation or minimise acquisition. But in this particular case, several owners on the stretch have requested saying they are not comfortable with the compensation. It is not that all properties owners are opposing the compensation. However, it is left to the management of BMRCL take a call on the issue.”
MLA of KR Puram assembly constituency BA Basavaraja told media, “I had two rounds of meetings with the MD of BMRCL on the issue. I had accompanied 20 property owners who had grievances over the low package offered. The rate fixed for the property is not justifiable and property owners are right in their demand. BMRCL is paying good compensation near Phoenix mall area as the property rate there is over Rs 6,000 per square foot but in this stretch it is not even Rs 3,000. I have also written to the chief minister on the issue.”
WHAT’S THE DEAL
* Per sqft compensation sought by land losers: Rs.15,000
* Estimated expenditure on Tin Factory-Mahadevapura line Rs.11 crore
* Increase in expenditure if property owners’ demands are accommodated: Rs.14 crore
* Measure of stretch under expansion (Baiyappanahalli to Whitefield): 15.5 km
* Amount to be spent by BMRCL to acquire properties on the stretch: Rs.500 crore
Credits Bangalore Mirror