The Hindu : Kerala News : Smart City: Chandy refutes Achuthanandan's charge

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Saturday, May 28, 2005

Kerala

Kerala

Smart City: Chandy refutes Achuthanandan's charge

Special Correspondent

`Let people decide on the grant of concession to the project'

THIRUVANANTHAPURAM: The Kerala Chief Minister, Oommen Chandy, on Friday denied the allegation that prime land in Kochi was being given to the Smart City Project for a low value.

In reply to an open letter sent to him by the Opposition Leader, V. S. Achuthanandan, the Chief Minister said Mr. Achuthanandan was exaggerating the value of the land in question. Out of the 298.67 acres proposed to be handed over to the promoters, 136 acres were 10 km away from the city. About 40 per cent of this land was fallow and lacked basic facilities such as electricity, water supply, roads or compound walls. This land was being transferred for a value of Rs. 26.47 lakhs an acre. This was a fair price in tune with market value. Other companies were being charged only Rs. 30.5 lakhs an acre for developed land inside the Kinfra Park and Info Park in Kochi.

Recalling his earlier statement, Mr. Chandy noted that the 100 acres were being given free of charge for the project as per the provisions of the Information Technology (IT) Policy.

This was the balance from the land acquired for the Brahmapuram project. The revenue authorities had assessed the value of that land to be Rs. 20 lakhs an acre. "Let the people decide whether it is wrong to grant a concession of Rs. 20 crores, as per the IT Policy, to attract an investment of Rs. 1500 crores."

He noted that other States were giving bigger concessions. West Bengal had given land at 15-20 per cent of the market value at Salt Lake in Kolkata to attract investors.

Referring to the allegation that the compensation provision was inadequate, the Chief Minister said none should fear that the promoters could easily go back on their promise of 33000 jobs. The Government would have nine per cent share in the pProject, and the number of jobs promised was realistic considering the growth of the IT sector.

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