Land Compensation Bonanza for Vadhvan Port Project Affected Villages
Residents in Palghar affected by the Vadhvan Port project will receive over Rs 2 crore per hectare in compensation for acquired land. The district administration has set rates and streamlined document submissions. The project aims to construct essential connectivity infrastructure, adding a 12% interest rate to the compensation.
- Country:
- India
The Vadhvan Port project in Maharashtra's Palghar district is set to payout significant compensation to affected villagers, with rates exceeding Rs 2 crore per hectare for acquired agricultural land.
During a high-level meeting, district officials laid out detailed compensation plans, which include double the market value, a 100 per cent solatium, and a 12 per cent interest rate from August 29, 2024. The land acquisition process is part of a broader initiative to develop road and rail links for the proposed port.
This ambitious Rs 76,220 crore project, spearheaded by JNPA and the Maharashtra Maritime Board, aims to create one of the world's top 10 ports, emphasizing transparency and efficiency in compensating affected communities.
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