Supreme Court Amplifies Compensation for Maharashtra Farmers

The Supreme Court has raised the compensation for Maharashtra farmers whose land was acquired in 1994 for industrial development. The apex court's decision enhanced the compensation from Rs 32,000 to Rs 58,320 per acre, acknowledging the land's prime location.

A bench comprising Chief Justice B R Gavai and Justice Augustine George Masih delivered this verdict while hearing pleas against an April 2022 Bombay High Court dismissal of farmers' appeals.

The court underscored the principle that, when there are multiple exemplars, the highest bona-fide transaction is considered. It highlighted that the compensation should reflect the price a seller might reasonably expect from a willing buyer.

(With inputs from agencies.)