DH News Service, Kolar: A meeting called to negotiate a just compensation for the lands acquired in Kolar and Malur taluks, failed to arrive at a final decision. State government has acquired 685 acres of agricultural land spread over Appasandra, Karudubande, Yandrakayapura and Achchatnahally villages in Kolar taluk and Karinayakanahally in Malur taluk for establishment of industrial estate. While the possession of lands has already been taken, farmers are yet to be paid compensation. Deputy commissioner had called a meeting at Ambedkar Bhavan here on Thursday to negotiate the quantum of compensation. However, difference of opinion over arriving at a just price compelled to defer the meeting to Sep 27. Farmers took exception to acquisition of fertile lands despite availability of large tracts of barren and forest lands in the district. Taking a dig at not sparing even the small and marginal land holders, the peasants expressed apprehension over their very survival if the government acquires fragments of lands they inherited from ancestors. In view of escalation of land prices to Rs 50-60 lakh per acre, they demanded government fix compensation of Rs at least 60 lakh per acre of land. Farmers may have to contemplate suicide in case of lesser compensation, they threatened. Apart from this, farmers also sought appropriate compensation for the crops grown over acquired lands. They brought to the notice of the meeting that the then Minister for Industries, Katta Subramanya Naidu had consented to fix prevailing market price for the lands acquired. While most of the farmers make known their opposition to acquisition, a handful were of the opinion that establishment of industrial estate heralds development and addresses unemployment. Responding to the comments, deputy commissioner H R Srinivas said that acquisition process cannot be altered as notification has already been issued. He assured to provide ten guntas of developed land in lieu of one acre of acquired land or compensation at the rate determined by the government. Karnataka Industrial Area Development Board (KIADB) special land acquisition officer Vijayakuar, joint director Kyobanaik, revenue officers Mohammed Ali, Manjunathswamy and other officers were present in the meeting.