The State government is losing about ₹1,000 crore annually on Shivaram Karanth layout following a High Court stay, said Deputy Chief Minister D.K. Shivakumar on Thursday in the Legislative Council.
“The government has invested about ₹7,000 crore for the development of the layout. Due to the stay order, we are unable to allot sites in the layout. The government is seeking legal advice from the Advocate General on this matter. The government faces a loss of about ₹1,000 crore annually due to the stay order.” He pointed out that though the acquisition process commenced 15 years ago, compensation to farmers have not been given yet.
