Indian Railways Bullet Train needs breathing space, but Godrej holds the key

Indian Railways Bullet Train: The land hurdles in Mumbai for India's first bullet train project between Mumbai and Ahmedabad have finally cleared after the state identified and will be acquiring a piece of land for the project. After this, it will not require more land acquisition in the city limits for the project. The state government has identified a piece of land for the National High-Speed Rail Corporation Ltd (NHSRCL) land measuring 39,547 sq mt located in Vikhroli and owned by Godrej. A letter from the Mumbai suburban collector office was sent to Godrej this week. The land will be used for ventilation ducts only as throughout Mumbai the bullet train route will be underground. The government requires this huge piece of land for ventilation installments. The state government has identified a piece of land for the National High-Speed Rail Corporation Ltd (NHSRCL) land measuring 39,547 sq mt located in Vikhroli and owned by Godrej. A letter from the Mumbai suburban collector office was sent to Godrej this week. The land will be used for ventilation ducts only as throughout Mumbai the bullet train route will be underground.Senior officials from NHSRCL said that this is the only land that they require in Mumbai city limits. Confirming the same, Mumbai Suburban Collector, Deependra Singh Kushwah said, "Earlier the requirement was of some 7-hectare land but now it is 4-hectare. This land has been identified and shall be acquired following the due process for NHSRCL for the use of Bullet Train related activities."

The Land Acquisition Officer of the collector office, Sonali Mule said, "The process is that we shall acquire the land for the Bullet Train work. This land parcel will be used for installing the ventilation ducts for the underground rail network. The bullet train that starts from BKC till Thane is expected to be underground and for this ventilation, instalments have to made and it will be done in Vikhroli. This is the only piece of land in Mumbai apart from BKC which is being acquired right now." Mule stated that a letter informing Godrej was sent on Thursday and as per the guidelines they have issued a public notice for the same. "This land will be acquired under the consent rule, where the owner after consent shall be given 100 per cent market rate for the land, then 100 per cent solacium and 25 per cent additional," said Mule.

A senior official from the Corporation said, "We were looking for a nearly 4-hectare land in Mumbai for ventilation ducts, this the state government has identified and we shall get it by June-July. This was the only piece of land that we want in Mumbai." The government has a complex method of calculating the rates of a plot they want to acquire, they base the market rate on the average of deals which have taken place on the parallel parameters in the vicinity in the last three years.

However, an average rate in the nearby area is between Rs 50,000,70,000 per sq m. Arvind Bhanushali, a local broker from the area said, "Calculating the plot rate in the area is difficult because Godrej has rarely sold the plot to anybody. But the nearby area does have a value of Rs 50,000-70,000 per sq mt." Going by the rate the government will have to shell out somewhere close to Rs 230 crore for the plot, plus the 100 per cent solacium and 25 per cent additional, which will take the amount to Rs 500 crore. We tried reaching Godrej, but couldn't elicit a comment from them on the same.
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