MIDC offers sops for SEZ's smooth sail

Moots land buyback scheme for farmers displaced by Bharat Forge venture

Maharashtra Industrial Development Corporation (MIDC) has devised a formula to compensate farmers who would have to surrender their lands for the proposed Special Economic Zone (SEZ) promoted by Bharat Forge.

"The formula not only intends to compensate the land owners, but also aims to offer them an opportunity to buy back at concessional rates the land surrendered and use it to support their survival," MIDC regional manager Anil Kavade told Business Standard on Thursday.

The agitation against the proposed SEZ, which will require 10,000 hectare land near Khed, some 50 km from Pune, has come close on the heels of the violent protests against MIDC's proposal to develop the fourth phase of the Hinjawadi Software Park at Maan.

"The formula for land owners at Khed is more or less on the lines of the one offered for Maan villagers, Kavade said.

The formula offers 15 per cent of the land surrendered by an owner at half the rate at which it would be offered for the SEZ. The owner can use this land to start industry of his own (not necessarily an information technology unit).

"Alternatively, these land owners can pool in such pieces of land to form a body that will engage in some industrial activity. Experiments like this have been successful in Pune's Magarpatta IT Park," Kavade said.

The formula also has an option for the landowners to buy back 5 per cent of the surrendered and use it to carry on commercial activity. The rate for this land would be half the rate charged by MIDC for land for commercial use. The landowner can then build offices or other commercial space and use it or rent it out.

Kavade said the formula aims at saving the owners from being displaced and at the same time ensuring a means of livelihood on a long term basis.

"They will get compensation for their land, and get back developed land where they can continue to operate as businessmen," Kavade stressed.

He added that the corporation has also proposed to set up industrial training institutes for the wards of the land owners so that they learn skills which will be demanded by the industries coming in the SEZ.

Kavade explained that the corporation was in the process of negotiations with the farmers. "We hope to be able to convince them though we can't put a time limit to the process."

The proposed SEZ is coming up as a joint venture company between Bharat Forge and MIDC, Kavade informed.

He said the land has been identified and it will follow the route of measurement, notification and public hearing as is the case with any land acquisition done by the government. Business Standard's queries to Bharat Forge officials remained unanswered.