Saturday, July 30, 2016

Is land pooling better than outright acquisition?

Mumbai: Navinchandra Ghatwal had recently been to Magarpatta near Pune and he was amazed to see the development there.

Once a sleepy village, Magarpatta is now a sprawling industrial zone that boasts of residential neighbourhoods, a multi-specialty hospital, a shopping mall and many restaurants.

It is far removed from Khalapur, a town near Mumbai, where Ghatwal owns 30 acre of land.

The residents of Magarpatta, once marginal farmers, are now well-to-do, many of whom drive swish cars.

Thanks to a wise decision 25 years ago to pool their lands and rent it out for setting up industries instead of just selling out, the Magarpatta farmers earn far more than they used to by tilling their land.

"Over a year ago we villagers had been to Magarpatta Township and witnessed how it monetarily benefited everyone. For each acre owned, the owner is getting monthly rental of Rs 60,000," said Ghatwal.

He is now looking forward to a similar development at his native Khalapur, where an upcoming airport has thrown up such an opportunity.

Khalapur falls under the Navi Mumbai Airport Influence Notified Area (Naina), which covers the second airport that would cater to Mumbai, where the government is acquiring land under a pooling scheme.

Usually development projects invite huge opposition from the locals as it requires them to sell their land, which is an inflation-beating asset, and forces them to stare to at a bleak future when that money is gone, and possible uprooting from their ecosystem.
30/07/16 Ateeq Shaikh/DNA
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