In a move to hasten Kochi Metro works, the price of land to be acquired for the project in the heart of city was fixed at Rs 52 lakhper cent at a meeting of district officials and land owners convened here to resolve the long-pending dispute on Friday.
The land owners accepted the suggestion put forward by the district collector at the meeting held in the Guest House.
“The land owners, by agreeing to the price, have contributed to faster implementation of a major development project.
For every building to be fully or partially demolished, they will be given compensation at rates fixed by the PWD, ie, from Rs 10,000 to Rs 2.89 crore,” the collector said.
“Also they officials have agreed to provide a special rehabilitation package for those who give away their land. We agreed the price for the sake of Kochi’s development. If more land needs to be acquired in future, this price won’t be the basis,” said Majnu Komath, an advocate.
Another beneficiary, Pareeth, said the development “stands goods for the project especially when Prime Minister Manmohan Singh is set to lay the foundation stone for the project on September 13.
The prime areas include Banerjee Road, MG Road and Jos Junction, South Railway Station Road sector.