In all, the Government has identified 21,000 land owners in the 17 villages earmarked for the capital. Besides, Rs 25,000 per acre per annum will also be paid to them to compensate the loss of crops for the next ten years, with a 5 per cent hike every year,' the panel members told a press conference at the end of their meeting. 'Each land owner will be given 1,000 sq yards of developed land for every acre he parts with. This process will be completed in three months and the pooled land will be developed in the next nine months. 'We have decided to procure 30,000 acres of land under the pooling system for the new capital. The Committee met here this evening under chairmanship of Municipal Administration Minister P Narayana and discussed the capital development and pooling of land required. The Government estimated that it would cost Rs 75 lakh to Rs one crore to develop each acre of land, they said.
