Metro: Compensation disbursement begins

Metro: Compensation disbursement begins
By P M Raghunandan, DH News Service, Bangalore:
The Karnataka Industrial Areas Development Board (KIADB) has quietly begun paying compensation to property owners whose plots of land were acquired for the Namma Metro project.

S Venkatesh, a retired revenue commissioner, residing on 100 Ft Road, Indiranagar, was the first landowner to receive the compensation under the project.

A cheque for about Rs 2.7 crore was handed over to Venkatesh by the KIADB recently for acquiring around 2009 sq ft of his land, according to sources in the Bangalore Metro Rail Corporation (BMRC).

KIADB is the nodal agency for acquiring land for the Metro project.

Venkatesh’s plot measured 50 by 80 feet and he is still left with nearly 50 per cent of it. The portion of his residential building standing on the acquired land, has also been taken over. Venkatesh, however, refused to talk on the compensation issue when contacted.

The BMRC has already despatched the final note to KIADB with respect to the acquisition of 17 more properties on Indiranagar 100 Ft Road.

“The KIADB will shortly issue notices to landowners. Once the KIADB receives the consent letter from the property owners, the compensation money will be handed over to them,” officials said.

BMRC’s final note contains complete details of valuation of the properties to be acquired, the officials added.
In all, 118 private properties have been identified for acquisition for “Reach 1” — between Chinnaswamy Stadium and Byappanahalli — stretch of the Metro project. These properties are mainly located on Indiranagar 100 Ft Road, CMH Road and M G Road. Work on the Reach 1 stretch, especially on M G Road, is on at full pace, according to the officials.

Once the KIADB notice is received, the landowners need to approach the Special Land Acquisition Officer along with documents pertaining to the property. The KIADB will verify the documents and compare them with the BMRC calculations. “If there is any error, it will be set right and the compensation amount will be released,” the officials noted.

The KIADB had in its final notifications gazetted on June 24 and 27 last published the names of landowners who would have to part with their properties for the project. Landowners who might not be satisfied with the award, or are not ready to give their consent, could take legal action, the officials said.

PRICY PROPERTY
*lRs 2.7 crore for 2009 sq ft of land
*17 more properties on Indiranagar 100 Ft Road to be acquired
*118 properties identified for acquisition between Chinnaswamy Stadium and Byappanahalli