Indore (Madhya Pradesh): The Indore-Pithampur Economic Corridor, an ambitious project of the state government, has moved forward after land compensation for farmers was increased from 50% to 60% on the instructions of Chief Minister Mohan Yadav. The project is poised to open doors to new opportunities for local landowners while fostering holistic industrial development.
Encompassing over 1,300 hectares, the project involves developing a 300-metre zone on both sides of a 75-metre-wide and 20-kilometre-long road at a cost of Rs2,360 crore. Official sources informed that the initiative will attract investment and ensure direct, long-term economic benefits for farmers contributing their land.
The primary challenge involved acquiring land through mutual consent, which was difficult as the proximity to the city commands a high market value. Recognising this, Yadav increased the share of developed land returned to landowners as compensation from 50% to 60%. This decision is encouraging farmers to voluntarily offer their land for the scheme.
The Chief Minister will perform the Bhoomi Pujan for the first phase of the project on May 3 at 12 pm at Sector A of the Indore-Pithampur Economic Corridor in Nanod. The estimated cost for this first phase is Rs 326.51 crore.
Receiving developed land as compensation enhances the potential for landowners to realise higher financial returns, as they can utilise the plots for residential, commercial, or other economic activities.
The project is expected to generate investment and employment through modern infrastructure and improved connectivity, benefiting local youth and ensuring regional development. District administration and Madhya Pradesh Industrial Development Corporation (MPIDC) officials are maintaining a dialogue with landowners to apprise them of the benefits.
