Maharashtra has decided to offer the highest-ever compensation to farmers for land acquired for the Rs 46,000 crore Mumbai-Nagpur Samruddhi corridor.
As per the land pooling model, the annual compensation for land per hectare would be Rs 75,000, seasonal farmlands would get Rs 1,12,400 per hectare and horticultural land would receive Rs 1,50,000. The compensation would be paid for 10 years with 10 per cent cost escalation every year.
Apart from the long-term monetary compensation, the government will hand over developed plots to individuals whose land has been acquired, in adjoining nodes (townships) which will come up along the proposed 710-km road passing through 10 districts. The government resolution states that the proportion of developed plot in the township would be 25 per cent of the size of land given.
There is also a provision for buyback. If an individual does not volunteer to accept the developed plot, the government will buy it and compensate the farmer at ready reckoner rates.