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Revenue Minister Anagani Satyaprasad has announced that farmers at Karedu in Ulavapadu mandal of Nellore district, are voluntarily offering their land for an industrial hub proposed by Indosol company.
Responding to a question raised by YSRCP MLC Madhava Rao in the Legislative Council on Thursday, the minister revealed that 500 acres have already been acquired with written consent, and compensation has been paid for 300 acres
The State government plans to acquire 8,200 acres for the hub, linked to Ramayapatnam Port.
Despite initial concerns, officials addressed farmers’ doubts, leading to their cooperation.
While the market value of the land is Rs 5 lakh per acre, the government has decided to provide Rs 12.5 lakh as per the Land Acquisition Act. Following farmers’ demands for higher compensation due to fertile, double-crop lands, the amount was raised to Rs 20 lakh per acre
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