The proposed IIT project in Sanguem-Rivona is currently in the process of land acquisition. The identified area for this project spans 10 lakh square meters, and the acquisition is estimated to cost Rs. 60 crores. 

Chief Minister Sawant has confirmed that financial allocation for this acquisition will be made. This development signifies progress in the establishment of the IIT project in the region, with the necessary steps being taken for the acquisition of the required land.