The Karnataka Industrial Areas Development Board (KIADB) is likely to approve a compensation of Rs 2.7 crore per acre for farmers in Devanahalli, following a joint meeting of officials and landowners held in Bengaluru on Wednesday. The meeting was presided over by KIADB Special Deputy Commissioner A N Raghunandan.
Compensation Details and Background
The proposed rate, which is significantly higher than previous offers, aims to resolve long-standing disputes over land acquisition for industrial development in the region. Farmers have been demanding fair compensation, citing rising land values near the Bengaluru International Airport and the growth of the aerospace and industrial corridors in Devanahalli.
According to sources, the meeting saw representatives from various farmer groups and KIADB officials discussing the revised compensation package. The board is expected to formally approve the rate in its next meeting, which could pave the way for expediting several industrial projects in the area.
Impact on Farmers and Development
If approved, the compensation will benefit hundreds of landowners who have been waiting for a fair settlement. Many farmers had previously protested against lower compensation rates, which they argued were not in line with market values. The new rate of Rs 2.7 crore per acre reflects the growing demand for land in Devanahalli, which is a key hub for the aerospace and defense industries.
“The decision is a welcome step and addresses the concerns of farmers who have been struggling for years,” said a farmer representative who attended the meeting. The compensation package is also expected to include additional benefits for those affected by the acquisition.
Future Steps and Implementation
KIADB officials have stated that the proposal will be sent to the state government for final approval. Once cleared, the board will begin the process of disbursing payments to eligible farmers. The land acquired will be used for setting up industrial units, including those in the aerospace sector, which is a priority for the Karnataka government.
The move is likely to boost industrial growth in the region and create employment opportunities. However, some farmers have expressed concerns about the timing of payments and the inclusion of all affected landowners. KIADB has assured that a transparent process will be followed.
