Tata Nano plant effect, land prices skyrockets in Sanand
The recently inaugurated plant of Tata Motors in Sanand has came as nothing less than a miracle for the farmers of this town as the value of their lands have been skyrocketing since the company shifted here from Singur. Where, the value of the 2 acres of land was mere Rs 20 lakh in this town just two years back, the Gujarat Industrial Development Corporation (GIDC) is now paying as much as Rs 5 crore to the farmers for the same.
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The land prices are shooting up ever since India's largest car maker Tata Motors shifted the manufacturing plant of its small sensation Tata Nano from West Bengal due to the a series of political agitations. The land prices in Sanand have increased by as much as 20 times in the last two years. The major reason behind paying this much money to the farmers of Sanand is that the state government doesn't want to indulge in any sort of land acquisition controversy, as was the case with its West Bengal counterparts.
The GIDC has acquired land at Rs 1,200 per sq meter which totals to Rs 48 lakh per acre. The corporation is currently in the process of acquiring as much as 770 hectares of Bol village for Rs 900 crore. GDIC also plans to set-up a huge 35,000 hectares land bank for the establishment of as many as 30 new GIDC estates. It is to be mentioned here that state government of Gujarat had sold the land to Tata at Rs 890 per sq metres.
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