Sunday, October 31, 2010

Banglore Metro RC spent 533 crore only to acquire land

Clearing the way for Metro rail is proving to be a costly exercise -- BMRC has had to shell out a whopping Rs 140.32 crore as compensation for land acquisition just for Reach 1 between Byappanahalli and MG Road. A 536.17 sq m property on MG Road cost the organisation Rs 6 crore while a 325 sq m plot cost Rs 5.36 crore. So far, BMRC has paid Rs 533.51 crore towards compensation for property acquired. The amount was fixed at different points of time over the past couple of years. Information obtained through a Right to Information application revealed that in Reach 1, Leela Ramachandra was paid about Rs 6 crore (Rs 6,62,12,624) for her property of 536.17 sq m on MG Road, at approximately Rs 11,471 per sq ft. While C D Medappa got Rs 3.99 crore for his land measuring 647.358 sqm, Indira Medappa with the same land measurement got Rs 3.99 crore as compensation.

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