• No delay in paying compensation to farmers
• 50% stamp duty exemption & full exemption on registration fee for developed land
Bengaluru, March 25: The amendment to Karnataka Industrial Area Development Board (KIADB) Act has eased the process of compensation to farmers whose land have been acquired for industrial purposes. Large and Medium Industries Minister Murugesh Nirani on Friday said that the government would not face any problem in dispensing compensation to land donors.
Replying to a query of Congress MLA NA Haris in the Legislative Assembly, Minister Nirani said that the farmers will get compensation without any hassle. “Earlier there were separate central and state government laws. As per the new Land Acquisition Act 2013, we have amended the KIADB Act regarding compensation for the acquired land. We will ensure compensation to farmers without any delay from now on,” Nirani stated.
Clarifying on fixing the rate for the acquired land, Minister Nirani said: “A final notification would be issued as per the clause 28/4 of the KIADB Act. The concerned Deputy Commissioner/KIADB Special Officer would fix the guidance rate for the acquired land in the Land Rate Fixing Advisory Committee meeting by holding talks with the land owners.”
Briefing on further concessions to the land losers, the Minister announced relaxation in stamp duty and registration fee for developed land. “The Government has passed the order increasing allotment of land from 9,583 sqft to 10,781 sqft to the beneficiaries in each acre developed by the KIADB if the farmers prefer developed land instead of compensation. There will be 50% stamp duty exemption and full exemption on registration fee while allotting these developed lands,” Nirani added.
Murugesh Nirani said that the compensation for land acquired will be directly credited to the bank accounts of the land donors through RTGS mode without any problem.