UN FAIR VALUATION

The Karnataka Industrial Areas Development Board (KIADB) decision to pay Rs.88, 000.00 per acre of land, acquired from the farmers for BMIC project, inGonipura,near Bidadi, is very un fair.The market price per acre of land when the notification was issued in 1997 was about Rs.one lac.Basing on this government fixed the rate at Rs.88,000.00 per acre. Because of lethargy of officials, there is un due delay in acquiring the land. After twelve years, the KIADB is ready to pay only the amount fixed then. This is un just and exploitation of the helpless farmers. The farmers expressed their angry by beating and locking up the KIADB officials who went there to serve notice. The valuation should be based on the current market price which is around Rs.50.00lacs per acre and the farmers are to be compensated accordingly.