Home Economy Delhi to pay Rs.7.5 mn for one acre of farmland

Delhi to pay Rs.7.5 mn for one acre of farmland


New Delhi : In a welcome decision in favour of capital’s farmers, the Delhi government Tuesday enhanced compensation for acquisition of agricultural land by three fold – from Rs.2.5 million to Rs.7.5 million per acre.

After a cabinet meeting, Chief Minister Sheila Dikshit said that her government has taken “a landmark decision” to provide “much wanted relief to those farmers whose agricultural land is being acquired by the government”.

Dikshit said the decision has been taken keeping in view the present trend of land prices and inflation during last few years. The last time the compensation rates were revised was in August 2005.

“The rates have been revised from Rs.25 lakh (Rs.2.5 million) to Rs.75 lakh (Rs.7.5 million) per acre for normal agriculture land whereas from Rs.800,000 to Rs.25 lakh (Rs.2.5 million) per acre for riverbed land,” she said.

The state government had constituted a committee to look into the matter in September this year. Delhi Finance Minister A.K. Walia headed the committee.

Though Dikshit did not specify the number of beneficiaries, she said that since government bodies are getting land from farmers for different developmental projects, the decision would benefit farmers.