Gujarat land prices double near probable Maruti plant site

“The land prices in Hasanlpur,which borders on the temple town of Becharaji,were in the range of Rs 8 lakh to Rs 10 lakh per bigha just 5-6 months ago. Now,they have risen to over Rs 15 to Rs 20 lakh per bigha,” said Babubhai Patel,sarpanch,Hansalpur.

“The prices have escalated after the announcement by Maruti. I think a patch of 270 hectares of wasteland in Hasanlpur has been earmarked for Maruti project and developers are buying the land around it.”

The MSI board had last month given the nod to purchase of upto 1,500 acres of land in the district. The auto major had stated in June that along with its vendors,it could invest Rs 18,000 crore in the state as it looks to manufacture nearly 20 lakh units a year in Gujarat. Land will be provided partly by Gujarat government while the company shall acquire the rest. Gujarat Industrial Development Corporation (GIDC) has acquired around 400 hectares of land near Becharaji,which can be offered to MSI,a top GIDC official said.

“The initial land requirement of MSI was indicated to be 1,000 acres,” he said. Patel said an Ahmedabad-based real estate developer had bought several bighas of land near Hansalpur at around Rs 10-12 lakh per bigha when the speculation about Maruti setting up a plant in North Gujarat started.