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  1. Andhra Pradesh courts domestic, overseas investors for land bank of 10 lakh acres

Andhra Pradesh courts domestic, overseas investors for land bank of 10 lakh acres

The state govt has promised farmers compensation, including an annual compensation, loan waiver and government jobs to the local youth

By: | Amaravati | Published: October 23, 2015 12:13 AM
land bank

The Andhra Pradesh (AP) government has an identified land bank of 3 lakh acres and is in the process of consolidating an additional industrial land bank of about 7 lakh acres in a phased manner. (Reuters)

The Andhra Pradesh (AP) government has an identified land bank of 3 lakh acres and is in the process of consolidating an additional industrial land bank of about 7 lakh acres in a phased manner. The AP government expects fresh investments both from domestic and overseas investors for a consolidated land bank of 10 lakh acres.

The state government has enacted the AP Capital Region Development Authority Act (CRDA), 2014, which helps in creating a land bank with all government lands being transferred into it. Besides, the Act helps in land pooling schemes in the capital region. Under this, small parcels of land belonging to various land owners are assembled under irrevocable and voluntary consents and reassembled into planned parcels, which are developed and partly returned to owners.

The Land Pooling Scheme (LPS) was issued in 24 revenue mandals. About 33,733s acre has been pooled, which are patta lands, 1,034 acres is endowment lands, 50,000 acres of reserve forest land, which will be eventually denotified and the rest include from land ceiling and unauthorised layouts.

However, farmers who have given consent are keeping their fingers crossed. The tenant farmers are the worst hit in this system. The state government has promised compensation in return with commercial land post-the completion of the capital, besides an annual compensation, loan waiver and government jobs to the local youth.

Under the agreement, the government will pay R1 lakh per acre for horticultural land. The farmers have to sign the development agreement with the CRDA to avail the compensation. Farmers in irrigated land will receive R50,000 per acre as annuity, while the same for the dry land farmers will be R30,000 per acre. The government has fixed these annuities under LPS being implemented for the capital region. The annuity will be paid for 10 years, starting now. The government recently has amended the Clause 2 of Rule 5 of the AP Capital City Land Pooling Scheme (Formulation and Implementation) Rules, 2015. A similar exercise to pay the annuity to landless or tenant farmers will be taken up shortly, say government officials.

The government will utilise its share of land to develop world-class infrastructure as well as other common amenities, including the capital complex. As part of the land pooling scheme, the government will reconstitute land, develop infrastructure and hand over possession of the developed plots to the land owners within two-and-half years.

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