The Madhya Pradesh Industrial Development Corporation (MPIDC) has taken a significant step in developing the Sector 7 industrial belt in Pithampur by allotting land to six owners under its innovative land pooling scheme. This move is part of a major push to accelerate industrial growth in the region.
Details of the Commercial Plot Allotment
The allocation process involved a total of 47 commercial plots with a combined value of Rs 47 crore. MPIDC had invited applications from landowners, and the plots were assigned according to the prescribed rules. While the majority of the allotments are now complete, the process accommodated specific requests. Two owners who sought plots at alternative locations will receive their allotment later. Furthermore, seven landowners who could not attend the process will be allotted plots through a lottery to be conducted under official supervision.
The Land Pooling Model and Future Compensation
Himanshu Prajapati, the Executive Director of MPIDC Indore, provided insights into the compensation framework. He stated that any remaining compensation for landowners would be swiftly settled through the allocation of residential plots via a lottery system. This will happen after the current round of commercial plot allotments is fully completed. "The process was accelerated to ensure landowners receive their plots at the earliest and can take informed decisions on future development," Prajapati explained.
This entire initiative is a component of the larger Sector-7 development project, which carries an estimated cost of Rs 452 crore. The land for this new township was assembled through mutual agreements with owners under the land pooling model, avoiding lengthy acquisition processes.
How the Land Pooling Framework Benefits Owners
The land pooling scheme is designed to ensure fair compensation while facilitating planned urban and industrial expansion. Under this framework:
- 20 percent of the compensation is paid in cash to the landowner.
- The remaining 80 percent is returned in the form of developed plots, which can be commercial or residential based on the owner's requirement.
This model transforms raw land into developed assets for the original owners, giving them a stake in the area's future prosperity. MPIDC officials highlighted that this approach is key to balanced development. To date, under this extensive project, MPIDC has allotted 3,735 plots to landowners, with a total valuation of approximately Rs 454 crore.
