Now Reading: Telangana to reclaim Rs 600 crore Raidurg land from IAMC
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Telangana to reclaim Rs 600 crore Raidurg land from IAMC
The Telangana government has decided to take back 3.70 acres of prime land in Raidurg, valued at around Rs 600 crore, which was allotted free of cost to the International Arbitration and…
The Telangana government has decided to take back 3.70 acres of prime land in Raidurg, valued at around Rs 600 crore, which was allotted free of cost to the International Arbitration and Mediation Centre (IAMC) by the previous BRS government. The decision follows the Supreme Court upholding the cancellation of the allotment.
The Telangana Industrial Infrastructure Corporation (TGIIC), custodian of the land, has begun the process of resuming the plot and will report to the government for further directions. Official resumption orders are expected shortly, cancelling the earlier land allotment government order based on the Supreme Court judgment.
The land is in the Knowledge City corridor, where TGIIC has auctioned nearly 40 acres in the past two years, fetching a record Rs 264 crore per acre for a one-acre plot. Chief Minister A Revanth Reddy has indicated openness to allotting alternative land to IAMC at market rates, which are significantly lower outside Raidurg.
Indian Opinion Analysis
This reversal is rare for free land allotments made under the previous BRS government, many of which are still under legal challenge. The Supreme Court's ruling effectively sets a precedent that executive largesse without market valuation cannot bypass public auction rules. TGIIC now holds about 10 acres of litigation-free land in that survey number, including the resumed parcel, which could be auctioned at Rs 200 crore per acre or more. For IAMC, the practical blow is relocation to a cheaper zone, such as the proposed Future City where government land values are around Rs 1 crore per acre, a 200-fold drop. The formal resumption order from the industries department is the next milestone to watch.
Source: timesofindia.indiatimes.com
This story was synthesised by AI from the source linked above.
