Vedanta University current land acquisition of Jagannath trust land leads to 1 crore per annum for the temple
April 11th, 2008
The following report in Sambada mentions that the 500 acres of Jagannath land that Vedanta University has so far acquired is leading to a corpus fund that will result in 1 crore per year for the Jagannath temple. My understanding is that this land was occupied by various people who did not contribute much to the temple. Thus this seems like a win-win situation. Vedanta University is in the process of acquiring an additional 846 acres land from the temple trust.
Following is an excerpt from a report in the Statesman.
The Jagannath Temple Administration is likely to earn at least Rs 1 crore per annum by way of interest against deposits made by Vedanta group of industries towards the temple land that it has acquired for the proposed world class university.
Company sources here said Vedanta has acquired around 500 acres of land in Nalihana, Gaindala panchayats for its proposed university. The administration of Jagannath Temple revealed that the land acquisition for the university has been conducted as per the norms of Land Acquisition Act-1894 and the company has paid more than the current market price. As of now the administration is getting more than Rs 8 lakh per month as interest from Rs 8.33 crore which has been kept as fixed deposit in the bank, claimed the company sources. The interest calculations work out to Rs 1 crore per annum, they added. While the administration has decided to acquire around 1,346 acres of land registered in the name of Jagannath Temple administration in Nalihana and Gaindala villages for the proposed Vedanta University, the acquisition process of 500 acres of land has been completed. The acquisition process for rest 800 acres of land is on.
Reliable sources said there is a proposal to seek Rs 2 lakh per acre for the land that is yet to be acquired.It may be noted here that prior to the land acquisition for the proposed project, the temple administration used to get virtually nothing from the land holding of the Lord.
Entry Filed under: Bhubaneswar-Cuttack-Puri- Khurda area (1),Land Acquisition and Land Use (Why so much land?),Vedanta University, Puri