A competitive rate of Rs 40 lakh a hectare, a 15 per cent buy-back policy at half the MIDC rate and a 200 sq m plot to those affected were the sops announced as part of the rehabilitation package for farmers. Nearly 600 farmers took part in the negotiations.

Dalvi said the first notification for acquisition was issued in 1996. “There had been some hurdles at government level but finally negotiations were successfully completed today,” he said.

The collector will submit the proposal to the government in a week and the committee appointed for the rehabilitation policy will clear the proposal. “The government will have to allot funds and then the money will be disbursed to the farmers,” he said.

The farmers had raised objections to the earlier offer of Rs 32 lakh a hectare. Officer on special duty for MIDC, Gajanan Patil, said the latest rehab policy was well received by the farmers.

In fact, the farmers are a relieved lot. Vilas Kale, who has offered 20 acres for acquisition, said he was happy with the rate but it came too late. “We could not do anything with the land after the notification. There was a long delay,” he said.

Tanaji Khendale, who has 30 acres up for acquisition, said the farmers had been waging a battle with the government to speed up the process for 14 years. “We are glad that the negotiation process is over,” he said.