Bengaluru, June 24: The Land Price Determination Advisory Committee has recommended a compensation of ₹2.70 crore per acre for nearly 120 acres of land in Gokarebacchenahalli and Hyadala villages of Channarayapatna Hobli in Devanahalli taluk, where farmers have voluntarily agreed to part with their land for industrial development.
The decision was taken during a joint meeting of landowners and government officials held at Aravind Bhavan under the chairmanship of KIADB Special Deputy Commissioner A.N. Raghunandan.
According to officials, the recommendation will now be forwarded to the Karnataka Industrial Areas Development Board (KIADB) for final approval.
Option for Developed Industrial Plots
Raghunandan said that landowners who do not wish to receive compensation in cash will be given an alternative option. For every acre of agricultural land acquired, eligible farmers can opt to receive 10,781 square feet of developed land within the proposed industrial area.
He said the provision has been included to provide flexibility to landowners and enable them to participate in the region’s industrial growth.
Farmers Voluntarily Agreed to Give Land
Officials stated that the acquisition process has been undertaken with the consent of farmers who voluntarily agreed to part with their land.
As per the provisions of the KIADB Act, a final notification for the acquisition was issued on June 16 and subsequently published in the state gazette.
Highest Compensation Rate in Devanahalli Region
Raghunandan noted that the compensation package recommended for the acquisition is the highest land compensation rate fixed so far in the Devanahalli region.
“The government’s intention is to ensure that affected farmers receive fair and just compensation for their land,” he said.
The meeting was attended by KIADB Land Acquisition Officer Suraj and other senior officials.
The proposed acquisition is expected to support industrial expansion in the rapidly developing Devanahalli region, which has emerged as one of Karnataka’s key investment and industrial growth corridors.
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