MIDC uses innovative methods to acquire land

Of the earmarked land, until today the MIDC has managed to acquire 267.56 hectares of land. Gagrani said that the remaining land would hopefully be acquired within the next 2-3 months. “We have changed our attitude in land acquisition. One of the major changes is the payment of compensation almost double that of the prevailing market rate,” he said. Also, the transaction, he said, was free from income tax and stamp duty cut. Gaonthan (main residential area of the village), irrigated and cultivated land are exempted from the acquisition.

The rehabilitation package offered to project-affected person (PAP) other than the monetary compensation also includes 15 per cent developed land. In case of Talegaon phase, the MIDC has appointed the international consultancy firm McKinsey to develop a sustainable model for usage of the 15 per cent land. The industry body, on its part, is keen on pooling the 15 per cent developed land together rather than handing it over to individual owners. “This would be a more viable solution for the community in the long run,” he said.

While the Taiwanese giant is yet to formally make its request for land allocation, around 1,000 acres would be required for the plant. “We want to be battle ready so that we can deliver the land within three months of the request,” he said. Foxconn Gagrani said has recently opened its office at the World Trade Centre (WTC) in Mumbai. The promised investment in the project is more than $ 5 billion.