Cabinet clears ₹1.50 crore per acre land deal for ISWML

The Cabinet on Thursday approved the acquisition of 60 acres and 6 guntas of land belonging to Terra Pharma Biotechnologies Limited at a rate of ₹1.50 crore per acre for the establishment of Integrated Solid Waste Management Limited (ISWML).

The notified private land is located in Gundalahalli, near Doddabelavangala, in Doddaballapura. Compensation to the private company will be provided under the provisions of the Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act, 2013.

The Finance Department has cautioned that fixing the rate at ₹1.50 crore per acre could set a new minimum benchmark for land transactions across the Bengaluru Rural district, irrespective of actual site conditions. This, it warned, could effectively drive up public expenditure for all future government projects in the region.