Disagreement over compensation amount of SEZ land in Gurgaon
Pradeep Sharma
Tribune News Service

Chandigarh, February 7
The tug of war between the Haryana Government and the Mukesh Ambani-led Reliance is set to intensify over a meagre compensation of Rs 343 crore for the 1,383 acres that it has to return to Haryana State Industrial and Infrastructure Development Corporation Limited (HSIIDC) from its land from the special economic zone (SEZ) in Gurgaon.

In fact, the compensation amount of Rs 343 crore, okayed by a Haryana Cabinet meeting, which was presided over by Chief Minister Bhupinder Singh Hooda, fell far short of Rs 1172 crore demanded by Reliance for its exit from its proposed special economic zone (SEZ), which had already been de-notified by the state government.

The compensation amount will even be less than nearly Rs 400 crore paid by Reliance to the state government for getting the land in Garhi Harsaru village in Gurgaon district.

“The company’s claims on account of administrative charges forming, refund of the stamp duty, reimbursement of development expenditure and interest amount totalling to Rs 1,172 have not been accepted. The refund amount has been worked out strictly as per the terms of the Joint Venture Agreement, dated June 19, 2006, signed between the HSIIDC and M/s Reliance Ventures Limited (RVL),” Chief Minister Bhupinder Singh Hooda claimed.

However, official sources claimed that the wide gap between the amount demanded by Reliance and offered by the state government could spark off legal complications. Since the prime land, along the Delhi-Mumbai Industrial Corridor (DMIC) was in the possession of Reliance, the HSIIDC would face difficulties in getting the possession of the land, which is now earmarked for the global city project.

Sources said apart from spending nearly Rs 400 on getting land from the HSIIDC in 2006, Reliance has spent a considerable amount on the development of this chunk of land. Apart from this, the company had paid annuity to the tune of Rs 17.61 crore to the farmers of the areas, whose land was acquired for the SEZ.

Moreover, the prices of land have skyrocketed in the proposed SEZ area in the last six years. With the Hooda Government coming up with amendment in the SEZ policy last year, allowing the development of integrated townships in the de-notified areas of the SEZ, anybody can guess if Reliance would be in hurry to hand over the land to the HSIIDC.

Reliance vs Hooda govt

* Hooda govt offers Rs 343 crore for 1,383 acres of land

* Reliance demanded a whopping Rs 1,172 crore compensation

* Rs 343 compensation falls short of nearly Rs 400 crore Reliance paid to state government in 2006

* Land prices have skyrocketed in the Gurgaon area in the last six years

* Transfer of land to HSIIDC may spark legal complications