G Noida Authority To Rework Land Buyouts

The Greater Noida Authority has said that it would undertake fresh land acquisition and was ready to increase compensation to farmers after the Allahabad High Court cancelled its earlier acquisition of 160 acres in the Noida Extension area. Farmers from Shahberi village in Gautam Budh Nagar had moved the court seeking cancellation of the authority’s acquisition. The authority now says it will sweeten the deal to accelerate the process of acquisition while removing uncertainty over housing projects being implemented in the area. Mr Rama Raman, CEO of Greater Noida authority, said negotiations had started with the farmers to acquire land afresh and a policy is likely to be unveiled, raising the compensation substantially from the present level of Rs 850 per sq metre.

Groundtruth.com, May 20th, 2011