With news of the SEZ, land prices have skyrocketed to nearly Rs 40 lakh an acre, but no land is available locally and he has been looking up farmlands in villages 20-odd km away that are still available at Rs 3-4 lakh an acre.

Welcome to what will soon become an integral part of the Bharat Forge multi-product SEZ that will come up over 7,192-hectares spread over 17 villages. The first phase will see 1,700 hectares being acquired, including 550 hectares of government land, and is expected to act as a benchmark for the next two phases, covering the remaining 13 villages.

“The government will be issuing the cheques by the end of this month. It will be issued in one lot and not in installments. Once the land is acquired, then the rehabilitation and re-settlement policy will be executed. This unique package will ensure guaranteed employment to one member of the family as well as 15 per cent buyback of developed land,” says District Collector Prabhakar Deshmukh.

Like Shinde, 75-year-old Dhondiba Kale, former sarpanch of Nimgaon who parted with 23 acres, is counting the days although the Rs 1.6 crore will have to be shared with his brothers who are part holders of this untilled land. “If I were to deposit some money, it will be in a nationalised bank, not any cooperative bank”, he says, echoing the sentiment of many others in the village.

Hoping to cash in on such sentiment are the two branches of Union Bank of India — Shel Pimpalgaon and Varude. While the former is targeting Rs 45 crore by way of deposits, the latter feels it’s already well placed to woo the soon-to-be lakhpatis. “Out of our 4,700 depositors, 300-odd are from these four villages. Naturally, they’ll be looking at us and we’re kicking off a deposit mobilization campaign soon,” says S S Patil, branch manager, UBI, Varude branch.

... contd.