Kochi GIFT City Update: Residents To Get Compensation For Land Acquisition By April As Kerala Government Resolves Issues Causing Delays

Around Rs 850 crore is set to be disbursed among Ayyampuzha panchayat residents by April as compensation for land acquisition for Kochi GIFT (Global Industrial Finance and Trade) City.

According to the Kerala government sources cited by The Hindu, there were delays due to some technical issues. However, their resolution soon can pave the way for the disbursal of the compensation by April.

Kerala Infrastructure Investment Fund Board (KIIFB) will release the funds for the 400-acre land acquisition. This comes after Congress MLA Roji John raised the issue of compensation payment to the landowners.

Situated near the Cochin International Airport, GIFT City is a non-manufacturing cluster of businesses and finance. It is a part of the Bengaluru-Kochi Industrial Corridor project.