By: Ramesh Kumar Answaraj | February 25, 2019 12:00am IST Answering a question about his future in the land market, billionaire Bhagwant Mann told ET that he is interested in buying land in India for a few lakh crores and that he will soon release details.
Asked about his land plans, Mann said, “Land is a very important issue and I will take the initiative to buy more land in the next few months.
I will sell my land for a profit.
I don’t think there is any point in buying more land for that price, I will release details soon.”
Bhartie Mann has long been linked with the sale of a huge chunk of land in Maharashtra state for about Rs 15,000 crore.
He also owns a large tract of land across Maharashtra state, with land worth Rs 7,000 crores in the state.
Mann has long argued that the state’s government should give a larger share of land to the rural poor.
He was even seen visiting the state during the state election campaign in 2016 and had also suggested that he might sell his land.
The government has said that the land could be sold to the tune of about Rs 12,000 per acre.
“I have always said that we should sell off the land in our state and make more land available for rural people.
I would like to sell my entire tract of 1.36 lakh acres, which is approximately 1.37 million hectares, to the state government for a fair price.
I think I am doing my duty as an entrepreneur,” he told ET.
Asked whether he was considering buying land for as little as Rs 5,000 to 10,000crores, he said, ‘Yes, yes, I am considering that.
We have not done much on land sale for several years.
It is about a year away.
But, we are planning to buy a large portion of land and build up the infrastructure that we need.’
Mann is a member of the country’s richest group of billionaires.
His wealth has been estimated at around $1.5 trillion.
He has also been linked to a number of big land deals in recent years.
The biggest land deals to be completed in the country are worth nearly $300 billion.
Mani Choudhury, chairman of the land board of the government of Maharashtra, said the land acquisition for the mega-projects is a huge challenge for the state, which has an average population of around 2.8 crore.