Gurgaon is often confused as an upcoming modern city as it is known to have many multinational companies and booming infrastructure. Many have invested in residential as well as commercial land in Gurgaon but it's little known there are vast patches of agricultural land available for investment. Since the government of India has listed Gurgaon as Special Economic Zone (SEZ), therefore there are plans to convert vast agricultural land to SEZs.
Big Money
There is a huge amount of investment flowing into the agricultural land of Gurgaon. Many renowned investors such as DLF, Reliance Industries Ltd, and Emmar MGF are eyeing to earn crores of turnovers from these SEZs. There is an estimate that around 35 percent of agricultural land of Gurgaon will be converted to SEZs and other projects. DLF have even announced to buy the agricultural land from farmers at existing market rates. Reliance is covering 25000 acres, DLF is developing 20000 acres, and Emmar MGF is using 10000 acres of land.
Strategies and Plans
The real estate giant DLF is working with Haryana government and Haryana State Infrastructure and Industrial Development Corporation (HSIIDC) to acquire all the land allotted to the company. On the contrary, the HSIIDC has informed DLF that government will not move ahead till the company acquires 75 percent of the land. The DLF Group is expected to pay around Rs 22 lakh per acre for their agricultural land. As per law, even the government is not allowed to acquire the land without the permission of the farmers. The DLF has asked government to impose Section 6 of Land Acquisition Act. According to this act, government can acquire land from the farmers.
Reliance is also planning to be big in Gurgaon. Taking the leap out of DLFs book, Reliance has also joined hands with HSIIDC to become the biggest player in the SEZ projects. Reliance is all set to develop India's biggest SEZ in Gurgaon. Reliance is targeting to achieve Rs 50,000 crore in the first year of operation.
