Indore (Madhya Pradesh): MP Industrial Development Corporation (MPIDC) returned the developed commercial plots to farmers whom land was acquired under the Land Pooling Act. These plots are located in Sector-7 of the Pithamapur.
Under the Madhya Pradesh Investment Area Development Rules, the Smart Industrial Township Sector-7 is being developed by MPIDC at a cost of Rs. 452 crore. Land acquisition from the landowners included in the scheme is being done through the land pooling method based on mutual consent.
MPIDC executive director, Himanshu Prajapati, informed that landowners who have surrendered their land under the scheme are paid twice the Collector's guideline rate as compensation. 20% of this amount is paid in cash and developed commercial and residential plots equivalent to the remaining 80% are allotted to the landowners. Prior to Tuesday, 3735 plots worth Rs. 454 crore had already been allotted to the landowners.
On Tuesday, MPIDC invited 14 landowners to select and receive allotment of commercial plots as per the rules. Of these, 6 landowners were allotted 47 commercial plots worth Rs. 47 crore. Two landowners requested plots at other locations, which will be allotted later and 7 landowners who could not attend the meeting will be allotted plots through a lottery system using software.
Executive director Prajapati informed all the landowners that after the allotment of these plots, the remaining compensation amount will be used to allot them residential plots through a lottery process using software. MPIDC has expedited this process, keeping in mind the interests of the landowners, so that they can receive their plots quickly, make further decisions regarding them, and enable the rapid development of residential complexes in the area.
