Andhra Pradesh government has announced land pooling policy to build new state capital located close to Vijayawada in the Guntur district. It was announced by Andhra Pradesh Chief Minister N Chandrababu Naidu.
This policy aims to secure about 30,000 acres of land in order to construct a greenfield, riverfront capital city on the southern side of the Krishna river. The masterplan for building up world-class capital city will be prepared by Singapore government.
Pooling of land for the capital will begin on 9th December 2014. In it around 22,405 farmers in 29 villages are ready to part with their lands.
The state government has immediately released a sum of Rs 200 crore to provide debt relief of up to Rs 1.5 lakh to each farmer as a one-time settlement.
- Dry land owning farmers as compensation will be given 1,000 square yards of residential plot and 200 square yards of commercial plot as compensation for every acre. They will be also paid with monetary compensation of Rs 30,000 per annum for ten years, with a 10 per cent hike every year.
- While the farmers owning wet land will compensated by 1,000 square yards of residential land and 300 square yards of commercial plots in the proposed zone closer to their existing lands. They will be also paid with monetary compensation of Rs 50,000 per annum for ten years, with a 10 per cent hike every year.
- In case of 12,000 families of agriculture labourers and tenant farmers will be paid Rs 30,000 per annum each. For this purpose Capital Region Social Security Fund will be formed.
Pooling of land will be initiated by first issuing an authorisation letter to land owners on the first day. In the next nine months, they will get Land Pooling Ownership Certificate. In next three years developed land will be provided to farmers with necessary infrastructure.