DH Photo
Bengaluru: At a time when land prices are going through the roof, eight private firms have parted with their prime land – totalling close to 16,000 square metres – free of cost for the Metro project in Bengaluru.
This generous gesture has helped the Bangalore Metro Rail Corporation Ltd (BMRCL) save at least Rs 175 crore as every land loser is generally paid two to four times the guidance value as compensation.
Of the eight firms, four have donated their land without imposing any conditions. They are: A Munireddy, owner of AMR Tech Park on Hosur road, Total Environment Building Systems, Prestige Notting Hill Investments (Bannerghatta Road) and Vikas Telecom Pvt Ltd (Kadubeesanahalli in Outer Ring Road). They have completely opted out from receiving monetary compensation.
Munireddy's grandson Sharath told DH that they did not mind parting with the land free of cost as the Metro project would help over 10,000 employees working in their tech park. "The long expressway along Hosur Road does not help us at all as it does not have any up and down ramp near our campus. We have all been waiting for the Metro. Our only request is that the officials should ensure the project is completed well within its deadline," he said.
What more is added on
In the case of others, the Namma Metro has given either full or a part of the "gifted" land back to the private firms for a fee of Rs 1,000 per year for a period of 99 years. These firms are: Bengaluru-based Infosys, Biocon and RMZ Infotech as well as Nettur Technical Training Foundation (NTTF).
While some believe the gesture allows private firms to retain control over their property indirectly, officials said the land was leased back with the condition that it should only be used for non-commercial purposes such as accessing the campus or developing the unused land as a garden or as a parking lot once the Metro work is over.
"The land of RMZ Infotech, for instance, falls in between two Metro pillars. Since there is no utilisation value for us, we gave it back as it is needed for vehicles to enter their campus," Channappa Gowdar, special land acquisition officer at BMRCL told DH. "In other cases, only part of their land is given back. Access to their campus was the primary reason. There is no monetary gain for the companies," he said.
Besides giving away their land, Infosys and Biocon are also funding the construction of two different Metro stations on Hosur Road. As the campus and the upcoming Konappana Agrahara Metro station are far away, Infosys is building an air-conditioned foot-over bridge for their employees on the 'leased' land.
While the access to Biocon campus from the Metro station is not clear, officials said NTTF will be using the vacant land for parking as the Metro viaduct passes through its premises.