Kiadb acquiring site
I have a BMRDA approved site measuring 1200 sqft which is being acquired by Karnataka Industrial Area Development Board (KIADB) along with 200 other sites.
The land was sold by the farmers (original owner) to developers and then to me.
Site is registered in my name and khata transferred as well.
KIADB sent notification to the original owner and the developers took the case to high court for cancellation of acquisition which the high court rejected and the case is now pending a writ petition with the supreme court.
I wanted to know:
1. Will KIADB compensate individual site owners or original owner as they have sent notice to original owner?
2. How red-tapped is the process to receive compensation and typically how long does it take?
3. Will KIADB compensate based on total acreage which includes roads, parks, etc. as well or just the site registered, i.e., 1200 sqft?
4. If above is true, who gets the share for common land, e.g., roads, the developers or the site owners.
5. The guidance value of the site is Rs 1000/sqft. How much compensation can I expect.
Thanks a lot in advance for your advice.