Nearly two years ago, the state government had announced with much fanfare the launch of Rs 50,000-crore Gujarat International Finance Tec-City (GIFT) project near Gandhinagar. The project, being benchmarked as ‘a global financial services hub’, is yet to take off, even as 500 acres of land have been allotted for the purpose.

Besides the current global economic meltdown, the other hurdle facing the government in implementing the project is the stiff resistance put up by local farmers to the acquisition of their farmland.

The project is envisaged to come up on about 1,000 acres of land in the vicinity of the three villages of Shahpur, Ratanpur and Firozepur on the outskirts of the state Capital.

But, the protesting ryots are reluctant to part with their farmland. Their argument is that the price offered by the government for their land is much lower than the prevailing market rates.

“The government offers farmers a meagre Rs 41 per square metre, while the current market rates of land ranges anything between Rs 3,000 and Rs 4,000,” Ratanpur village sarpanch Lalsinh Bihola told Newsline on Thursday.

He said that some leading corporate houses have already approached local farmers, offering them the rates of Rs 3,000-4,000 per sq mtr. “Farmers will not hesitate to launch a Nandigram-type agitation, if adequate compensation is not given,” Bihola added.

Admitting that the agricultural land around Gandhinagar was much costlier, a senior officer involved in the land acquisition process said the price of a piece of the land is usually fixed, keeping in mind its location and the development taking place around it. “The farmers’ demand (for higher rates) is under consideration,” he said.

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