New Delhi: After undergoing several jolts in the recent past, the Centre has started giving a serious consideration to the probable effects of the government version of Land Acquisition Bill on the ambitious Delhi Mumbai Industrial Corridor (DMIC) project.

If it is passed by the Parliament in the present format, the DMIC project cost is likely to witness an exponential increase.

The 90 billion dollar (DMIC) project, which is aimed at developing high speed freight line, ports and airports connecting the country’s political and financial capital, will require massive stretch of land.

The land is being acquired for the project in nine cities between Delhi and Mumbai.

The task force on DMIC is likely to discuss the provision of the bill in October 2011. The government version of the bill may increase the cost of the project.

For example, the project would pass through a vast tract land in Haryana and Maharashtra which are multi-cropped. Under the project, nine industrial areas have to be developed in Delhi, Uttar Pradesh, Haryana, Rajasthan, Gujarat and Maharashtra.

Though the bill takes care of the interests of farmers, the land cost will go up by 60 to 80 percent because of higher compensation offered to them.

The residential projects have to be developed around all the nine cities with help of private builders.

Under the project, 3 ports, 6 airports have to be developed. In addition, 4000 MW power plant has to be set up. 35 percent of the total project would cover Gujarat where land is already costlier.