The land pooling is not simply a give and take process but an amalgamation of land. The end evaluating will not only include the area of land but assets that come with it. These assets might include a well, pipelines, drip-irrigation system, investments made in the growth of large trees, sheds, and so on. The land and investments made on it for the generation of a desired income will be calculated. This amount will be given to the landowners against the land they pool. An authorised officer will be appointed by the government for the evaluation of land and accumulating returns on it.
The percentage returns on the land will be determined on the basis of the landowner’s status of ownership.
The Crop Annuity:
To give annuity to the landowners for any loss of income for the interim period, they will be offered monetary compensation for a period of 10 years. The landowner will receive Rs 30,000 per acre for rain fed land, Rs. 45,000 per acre for seasonal irrigated or seasonal cash crops land, and Rs 60,000 per acre for irrigated land as crop compensation for a period of 10 years. This will be increased 10% every year to take inflation into account:
An example for the calculation of the predetermined value of the land after construction:
Suppose, 1 Hector R. land in Mauje Ghaygaon of ‘Class 1-Beneficiary’ is given for ‘New Township’ Project for land acquisition to Corporation( महामंडळ ) then, – the landowner will get a developed plot of 3,000 sq.m. in the New Township. The Valuation By ‘New Land Acquisition Act’ will be as follows: Non-agriculture Land Rate: 3,000 x 900 = 27,00,000/- The valuation according to the coefficient for ‘Land tenure of land’ = 27,00,000 x 2 = 54,00,000/- The valuation including solatium value = 54,00,000 + 54,00,000 = 1,08,00,000/- According to ‘New Land Acquisition Act’ current Remuneration value= 1,08,00,000/- The valuation of land, on this Remuneration with 9% Simple Interest after 10 Years = 1,08,00,000 + ( 1,08,00,000 x 9 x 10/100 ) = 1,08,00,000 + 9,72,000 = 2,05,20,000/-
After 10 years, if the landowner does not get a value equivalent to the market value, he can request the government to buy back the developed land.