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Kokapet auction hits block
Posted by Srini Uppala | December 18, 2007 | 392 views
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Loading ...Stone crushing units in Rajendranagar mandal are proving to be stumbling block for the auction of Kokapet lands by Hyderabad Urban Development Authority. It was learnt that buyers wanted closure of stone crushing units since they were causing heavy noise and air pollution. The State government is in a fix as it had leased out these units.
At present, four crushing units are running near Kokapet lands. In fact, the government issued closure notices to owners of those units but they could get stay orders from the court. Huda officials feared that it will bring down Kokapet land demand. So far, only four buyers approached Huda for the purchase of land at Kokapet. According to officials, Pune based Prem Sagar Hotel Management, HDFC Bank of Mumbai, Mr Madhusudan, deputy general manager of Raheja and another buyer from New Delhi are willing to participate in the auction on 20, December.
“Existence of stone crushing units cannot be a hurdle since they are located one kilometre away from the Kokapet site,” said a senior official of Huda. “This auction is purely meant for big companies unlike earlier auction in which small plots were sold to individuals also. Response between the two auctions cannot be compared,” he added. Huda is going to auction off 100 acres land in four plots measuring each 25 acres. The upset price for each acre is Rs 12 crore. Huda officials hoped that the rate would go up to Rs 20 crore since Andhra Pradesh Housing Board could sell its land at Rs 18.5 crore recently at Kukatpally.
Meanwhile, advocate Syed Mohammed Shujaat Husain who is representing Moizuddin Mahmood and other legal heirs of late Nawab Nusarath Jung-1 alleged that Huda was misleading the public on Kokapet case just to boost the auction bids. He said that K.S.B. Ali who approached the Supreme Court did not represent all the 203 legal heirs of late Nawab. He said the legal battle was not over Kokapet lands.
SOURCES:
Deccan Chronicle
Topics: Govt Failures, Real Estate |
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