Business Daily from THE HINDU group of publications
Sunday, May 25, 2008
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Business Daily from THE HINDU group of publications Sunday, May 25, 2008 ePaper | Mobile/PDA Version | Audio |
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Infrastructure Industry & Economy - Real Estate & Construction Corporate - Announcements
Allotment of 12.5% of the developed land in proportion to the original land owned... Or Rs 5 lakh an acre as one-time down payment or Rs 5,000 a month for lifetime Vocational training for one person from each project-affected family and employment Our Bureau
Mumbai, May 24 Mumbai Special Economic Zone Company (MSEZ), promoted by Mr Mukesh Ambani and associated entities and persons, said it would allot 12.5 per cent of the developed land in proportion to the original land owned by project affected persons (PAPs). Under the MSEZ Relief and Rehabilitation (R&R) package, this 12.5 per cent land would be allotted at a price to be determined by the State Government, said a statement from the company. In case a land holder goes for the monetary compensation option (in lieu of 12.5 per cent developed land), he would receive Rs 5 lakh for an acre of land as one-time time down payment or Rs 5,000 a month for lifetime. The package will become applicable as soon as the MSEZ gets possession of land on declaration of award by the District Collector. The company has already signed an MoU with the Maharashtra Government regarding the rehabilitation and relief. MSEZ plans to acquire 10,000 hectares in Panvel, Uran and Pen talukas of Raigad district near Mumbai. The company says that due to the project there would be no physical displacement of people, as none of the 45 gaothans (villages) would be acquired. It has also given assurance that one person from each project-affected family would be given vocational training and employment and an assured job after successful completion of training. During the training period, the person would be given sustenance allowance at the rate of minimum agricultural wages (Rs 68 a day). Upon successful completion of the training, employment at a monthly income in the range of Rs 4,000 to Rs 5,000 depending upon level of skills has been assured by the company. If the award for land finalised by the State Government exceeds the compensation for the land offered by the company, the difference would be paid in each individual case where agreements for sale under the consent route have been executed. MSEZ said that it has already purchased over 1,000 acres under the consent route. These landholders would also be eligible for the enhanced land compensation as well as the relief and rehabilitation package. MSEZ would be located close to the Navi Mumbai SEZ which is a joint venture between several Mukesh Ambani-promoted companies and CIDCO, the development corporation for Navi Mumbai. Reliance SEZ proposal among a dozen cleared Mukesh Ambani’s Navi Mumbai SEZ gets conditional nod More Stories on : Infrastructure | Real Estate & Construction | Announcements | Reliance Industries Ltd
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