Smantha Sen

In a major shift in strategy on special economic zones (SEZs) in Maharashtra, the Mukesh Ambani-led Reliance group has decided to buy land outright from farmers, instead of involving any government agency to acquire it.

Price being offered is not disclosed by RIL but they said it's much more than the prevailing market rates.

Sources in the state government indicated that the company changed its tack sometime in December.According to a revenue department official, nearly 80 purchase deeds have been registered in the last few days in Raigad district. The company has paid a stamp duty of around Rs 60 lakh on these registrations. This is an additional cost for the company, which is understood to have paid farmers three times the government-listed rates on direct purchase of land.

As per the earlier plan, the Maharashtra government was to acquire land spread in 45 villages for Reliance SEZs at government rates, which comes to a couple of lakhs per hectare, against the market rate ranging Rs 40-Rs 75 lakh per hectare, depending on the location. The government’s role as a land acquirer for Reliance had come in for sharp criticism.
--Economic Times

Kevin

That's great news from the Reliance Group!!!

Do you have any info on the latest status about the 'much awaited' Reliance SEZ in Gurgaon?

Smantha Sen

hi Kevin

The Haryana Industrial and Infrastructure development Corporation (HSIIDC) has initiated the process to hand over the 1,400 acres of Garhi Harsru land in Gurgaon to the company for the setting up of the Rs 25,000 crore multi-product Special Economic Zone (SEZ). However, with the company already acquiring land in Jhajjar and with this land in Gurgaon, the government would now have to play a greater role for the purpose of contiguity of the project.

The deal was pending from the last six months as the company hadnot deposited it's cost of Rs. 360 crore.

Interestingly, this land had been a bone of contention for the Reliance SEZ because the company wanted a portion of its SEZ in Gurgaon and had been eyeing this very piece of land which had originally been acquired by the HSIIDC for the setting up of its own SEZ.

The company have already struck deals for about ten thousand acres in Jhajjar and are now ready to start the project. The Gurgaon land transfer would finally set the ball rolling for the project. The company that had earlier opened an office in Jhajjar has now opened another office for the SEZ in Gurgaon also. The Gurgaon land has already been developed by the corporation whereas certain pieces of the Jhajjar land would need to be developed.

Thanks

Priya

Just to add to the piece of information shared by Smantha.

Earlier, i heard about some interesting rumours regarding Haryana government to set new riders on land acquisition for Relinace SEZ. The government is rigid on its stand to not to release its share of promised land for the project till Reliance holds its complete share of land.

Also, discussions are going around between Reliance and the Haryana govt. regarding signing an agreement, according to which the land will be acquired in ratio of 3:1 for the Rs 40,000 crore project. As authorities are coming up with new terms and conditions, Reliance can now expect a helping hand from the government only after acquiring 17,500 acres of land directly from the farmers.

Reliance has floated a special purpose vehicle known as Reliance Haryana SEZ.

In the past 7-8 months, the company has bought close to 7,000 acres from farmers and is buying at an aggressive rate of almost 80 acres per day which is certainly much higher than the market rates.

Are farmers taking it as as a nice offer by Reliance?