Did you know that if you live or rent a premise in the corridor of Metro Phase-II and next phases, you could avail many compensations when the land acquisition goes on and the construction work starts? Bangalore Metro Rail Corporation (BMRCL) Ltd has come up with the new Resettlement Policy Framework for land acquisition, which is in line with amended land acquisition policy-2013.
Extract of the section that explains some interesting components of compensation, from the BMRCL document:
Inconvenience Allowance: This is a onetime allowance paid to all project affected persons losing structure and land, for the inconvenience caused due to acquisition. The inconvenience is in terms of finding new gas connection, telephone connections, ration cards, new schools, colleges, arranging conveyance including deposits for the same. Inconvenience allowance has been provided at the rate of Rs. 30,000/- as a one time payment for those losing total residential structures. If the residential property loser continues to remain in the same premises, he is provided an allowance of Rs. 24,000 as he has to put up with various other inconveniences during project construction period. In case of tenant-families, the same allowance will be provided at Rs. 30,000/- for each family. For single tenant Rs. 15,000/- will be provided.
Transitional Allowance: This is allowance paid on the basis of the area lost. This amount is to offset interim rental/rent deposit costs to the affected persons because of shifting. The rate considered is Rs. 10 /- per square feet for 6 months. This is provided for those losing owned residential properties where shifting is required.
Shifting Allowance: For all affected persons who have to shift, this allowance has been provided based on the area lost. This amount is the transportation of belongings of the affected persons who have to shift. This amount differs for commercial and residential loss.
Business Premises Reestablishment Allowance: This is given to those persons losing their commercial establishments, to re-establish their business @ Rs. 240/- per sq. ft. of area lost. This is intended to meet the cost of rent @ Rs. 20/- for 12 months.
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