In Devanahalli, land-for-industry swap to likely fetch Rs 2.70 crore per acre, if this meeting is ratified…

Bengaluru: The Land Price Determination Advisory Committee has recommended a compensation of ₹2.70 crore per acre to the Karnataka Industrial Areas Development Board (KIADB) for 120 acres in Gokarebacchenahalli and Hyadala villages of Channarayapatna Hobli in Devanahalli taluk, where owners have voluntarily agreed to part with their land for industrial development.

The decision was taken at a joint meeting of officials and landowners held at Aravinda Bhavan in Bengaluru on Wednesday. The meeting was presided over by KIADB Special Deputy Commissioner A.N. Raghunandan.

Raghunandan said the recommendation would now be placed before the KIADB Board for approval and added that landowners who did not wish to receive monetary compensation would have the option of obtaining 10,781 square feet of developed land in the industrial area for every acre of agricultural land acquired.

He noted that the farmers had voluntarily consented to the acquisition of their lands and that a final notification under the provisions of the KIADB Act had been issued on the June 16 and published in the official gazette.

He further stated that the compensation recommended was the highest ever offered in the Devanahalli region and reflected the government’s commitment to ensuring fair compensation for affected farmers.