INDORE: On Monday, the Madhya Pradesh Industrial Development Corporation (MPIDC) allocated commercial and residential plots to 23 landowners whose land was pooled for the new Sector 7 industrial area in Pithampur.
A total of approximately 9.5 hectares, consisting of 10 commercial and 427 residential plots, were assigned to landowners, valued at around Rs 49 crore. These plots were registered from September 1, 2022, to December 31, 2022.
The industries department is aggregating land from private owners to develop Indore’s latest industrial expansion—Sector 7 in Pithampur—covering about 2,090 hectares, of which 600 hectares is government land, with the remainder being private. The total development cost is projected to exceed Rs 2,000 crore.
Himanshu Prajapati, executive director of MPIDC Indore, stated, “On Monday, land was allotted to 23 farmers, comprising 427 residential plots and 10 commercial plots. This marks the second allotment within five days.”
With the latest allocation, a total of 47 farmers have received land in this period. The industrial area has attracted investment proposals exceeding Rs 7,000 crore against the allotted 272.91 hectares, according to MPIDC.
Companies such as Action Construction Equipment (ACE), Pinnacle Industries, Shakti Pumps, JSW Paints, Asian Paints, and Ardee Engineering Ltd are among the industries that have acquired land in Sector 7.
The land acquisition follows an innovative compensation model, where farmers receive 20% of their compensation in cash, while the remaining 80% is provided as developed residential or commercial plots.
