The land acquisition law enacted during UPA's tenure has pushed up the cost of buying land for highway projects almost six times over five years. In the current financial year, the National Highways Authority of India (NHAI) estimates the initial price per hectare at Rs 3 crore, compared to Rs 56 lakh in 2011-12.
Compared to the average cost of Rs 1.35 crore a hectare during the last financial year, the acquisition value is estimated to be more than double this year. This has resulted in the overall cost of constructing a kilometre of a four-lane highway rising to almost Rs 16 crore, compared to Rs 11crore -12 crore a couple of years ago. A steep rise in the project cost has implications for the toll users pay.
The overall cost of building a kilometre of road includes construction expens es and the compensation paid during land acquisition. Sources said the expenditure towards land acquisition for building bypasses could be even higher -as much as Rs 10 crore-11 crore a hectare in certain parts of the country -as land around urban clusters is more valuable. Also, it bypasses need for more land compared to upgrading an existing two-lane stretch to four lanes. The higher cost of land has implications for the greenfield expressways planned around the country .
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About us
MCHI-THANE has always been very clear that fine housing complexes and shopping malls cannot stand in isolation. A great City is the sum total of great buildings, great infrastructure and great people. MCHI has been committed to growth of the real estate sector and is credited with the harmonious growth and rise in quality and standards of construction in Thane City in the past decade.
Its aim as an Association of Developers has been to seek rational rules and regulations which are uniformly applied across the board as this will to a great extent result in speedy construction, cost reduction, fair pricing and a push for better quality standards at par with the developed world, with a high level of transparency.
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Thane (W) - 400 604, Maharashtra, India
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