When you want a private company to invest 3 billions of rupee for infrastructure projects, you'd have to sweeten the deal.
Let me give you an example, land for tata nano factory in sanand was given to tata for either free of cost or minimal cost. Now when the factory is made land there must cost a fortune. So if we go by cag theory there has been massive lost in that deal.
Or you can also go mamata didis way and ask investor to buy directly from the landowners and bid adeo to any kind of investment.
It's the same way toll plazas work, private companies build road and bridges and in return they get the right to earn money from toll tax.
No, land near factory wouldn't have much effect.... land near airport where everyday tens of thousands of people come and go will increase 100s of folds in such a high populated dense area..India's capital... They were not building the airport in MP..AP or desert...