The committee will consider inputs from the nine special land acquisition officers (SLOs) recently appointed to oversee land acquisition. (Representative image)
Credit: DH File Photo
Bengaluru: The Karnataka government is likely to establish a price fixation committee to determine compensation for land acquisition for the 74-km Bengaluru Business Corridor (BBC), which requires approximately 2,560 acres of land.
Given that the project was first notified nearly two decades ago, the committee is expected to align compensation with prevailing market rates, as landowners are opposing acquisition due to inadequate compensation.
On Tuesday, retired IAS officer L K Atheeq, who heads Bengaluru Business Corridor Ltd, a special purpose vehicle (SPV) overseeing the project, chaired a meeting with officials to expedite the land acquisition process.
"We have requested the Urban Development Department (UDD) to form the committee as soon as possible," Atheeq said. "About 90% of the property measurement work is complete. Since the compensation will be based on the consent award, the committee will formulate a compensation formula."
Atheeq, who continues to serve as Additional Chief Secretary to the Chief Minister, emphasised the need for a structured compensation approach.
The committee will consider inputs from the nine special land acquisition officers (SLOs) recently appointed to oversee land acquisition. These officers have already met with farmer groups across 77 villages between Hosur Road and Tumakuru Road to gather feedback.
However, some officers had to return empty-handed as angry landowners refused to meet them, citing low compensation rates compared to the soaring market value.
Compensation Dispute: 1976 Vs 2013 Act
In a recent directive, the government instructed the Bangalore Development Authority (BDA) to follow the Land Acquisition Act of 1976 while ensuring that compensation aligns with market rates.
However, landowners remain unconvinced, demanding compensation under the Centre's 2013 Land Acquisition Act instead. The city’s peripheral areas, where the new corridor is planned, have witnessed a real estate boom over the past decade.
Currently, landowners claim that an acre of land is valued at over Rs 16 crore, while the BDA is offering a maximum of Rs 8 crore, leading to a standoff overcompensation.