In a bid to boost industrial growth, On Thursday IT and Industry Minister Rama Rao stated that the State's government did not have any plan to provide compensatory land for industrial development acquired land. He stated that in addition to paying compensation, the State government ensured jobs in the industries developed in such lands for an eligible individual from every family.

Govt Acquired Lands for Infrastructure Development

In relation to questions posed in the Legislature of the State, Rama Rao clarified that over the years, approximately 14,561 acres were acquired for industrial development in the former district of Ranga Reddy. The compensation amount was Rs 863.86 crore. The government acquired approximately 9,110 acres of over 8,000 acres for the establishment of the Pharma City project by itself after state formation.

Government is striving to obtain more land needed for the project, but some politicians with more agendas are trying to impede it, but this challenge will be solved and that the Hyderabad Pharma City project will be completed.

The Minister stated that the State government intends to register Balanagar industrial land for the Balanagar Cooperative Industrial Estate Phase-1 unit holders in Hyderabad. He said that a proposal was formed to convert land from rental to free retention and would be formally announced after all requisite approvals had been obtained well in advance. More than 50 years ago in Balanagar, some 47 acres had been leased to around 226 MSME units, and the lease term will expire soon.

There are two challenges to prolong the lease period. First of all, around two-thirds of the original allottees transferred or rented such lands against the standards. Secondly, their value has exponentially increased. The government is, therefore exploring all options, including free distribution of the land to the existing units.

Furthermore, Rama Rao claimed that only after reviewing the extent of land required for each industry land allocation was given to industrial units. He said that the State government had resumed approximately 1400 acres not used by the beneficiaries in the past six years and some of these potential investors who were unable to set up their units within a specified time frame were presented with cancellation notices.

By: Shailaja K