Professional consultants’ help sought to determine market value of properties to be acquired
Bangalore Metro Rail Corporation Ltd. (BMRCL) has started identifying and acquiring properties for the construction of the second phase of the Namma Metro in anticipation of the Centre’s final approval.
As per BMRCL estimates, around 2,000 properties, spread over 200 hectares of land, need to be acquired for construction of four East-West and North-South extension lines, and two new lines.
The 15.5 km Byappanahalli–ITPL–Whitefield extension line is to have 13 stations, while the 6.465 km Mysore Road Terminal (Nayandahalli)–Kengeri extension line will have five stations. Likewise, the 3.77 km Hessarghatta Cross–BIEC extension line is to have three, the 6.29 km Puttenahalli Cross–Anajanapura township will have five, the 21.25 km Gottigere–IIMB–Nagavara new line have 18, and the 18.82 km R.V. Road Terminal–Bommasandra new line will have 16 stations.
The Karnataka Industrial Area Development Board (KIADB) is to acquire the identified properties in a phased manner.
Structures on acquired properties are to be evaluated as per the Public Works Department’s (PWD) schedule of rates for compensation, while the land compensation would be determined on the ‘market value’ of the property, said corporation sources.
Further, a land committee is to be constituted by the corporation in order to decide the market value of land, and a real estate consultant is to be engaged to assist the committee, BMRCL sources said.
The difference between the guidance value of land (prescribed by the government for registration purposes) and the actual market value of land notwithstanding, the BMRCL intends to pay the prevailing market value rate to landowners whose properties are to be acquired.
According to BMRCL sources, the purpose of this move is to make the acquisition process litigation-free.