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HYDERABAD: Andhra Pradesh government has decided to reclaim over 4,700 acres of land allotted to Navayuga group’s Krishnapatnam Infratech for its multi-purpose special economic zone (SEZ), a third setback to the group after YS Jaganmohan Reddy government came to power in May.

The decision of the YSR Congress government will adversely affect interests of several banks including Axis BankNSE -0.22 %, ICICI BankNSE -1.23 %, Central Bank and Allahabad Bank that extended over Rs 2,000 crore

Despite interim stay orders of the Andhra Pradesh High Court, the Jaganmohan Reddy government had gone ahead with cancelling the Polavaram large irrigation and hydel power contracts worth over Rs 3,200 crore awarded to Navayuga group. Later, the government announced allotting them to Megha Engineering and Infrastructures

(Meil) in a reverse tendering process, while claiming significant savings to the exchequer.

Subsequently, the Andhra government decided to cancel the Machilipatnam seaport project awarded to Navayuga group by the previous regime of Telugu Desam Party (TDP)

Senior TDP leaders have alleged that the Jaganmohan Reddy government was resorting to vendetta politics and was targeting industrialists suspected to have funded the previous ruling party during the recent general elections.

While Navayuga didn’t respond to ET’s queries, sources close to the company said the management is looking at legal recourse to protect its interests.

The Krishnapatnam Infratech SEZ land of 4,731.15 acres now being cancelled is adjacent to Krishnapatnam port on India’s east coast. It was originally allotted to Navayuga group in February 2008 by Jaganmohan Reddy’s late father and then chief minister of united Andhra, YS Rajasekhara Reddy.

After obtaining the approvals from the central government in March 2010, Navayuga group proposed to set up units for automobile ancillary, chemicals, cold storage, container freight station, food processing, heavy machinery, IT/ ITES, leather, pharmaceuticals, refineries, warehousing, textile parks, residential complexes, and educational, commercial and recreational facilities.

Accusing Navayuga group of failing to utilise the land allotted, execute the project and create jobs as assured, the new Andhra government also alleged that Navayuga had raised funds by mortgaging the lands without its consent. In its orders on Saturday, the Andhra Pradesh Industrial Infrastructure Corporation (APIIC), the nodal agency, said it has decided to cancel “the allotment of 4731.15 acres of land and resumes the entire land without encumbrances and forfeits the consideration received in

in public interest.”
Quoting clauses of agreement entered into, the APIIC said it was the responsibility of Krishnapatnam Infratech “to repay all the financial loans raised by mortgaging this land and therefore KPIL has to resume all the financial obligations and encumbrances on this property and it is hereby notified that APIIC resumes the land free of all encumbrances.”

ET has seen a copy of the APIIC’s orders dated October 19.

While deciding to forfeit the amount paid to it by Krishnapatnam Infratech, the APIIC, however, said it was “willing to refund the cost of administrative building and school building” built on the SEZ lands if Krishnapatnam Infratech “provides the audited expenses incurred for the construction of these buildings after due verification and deduction of depreciation costs.”

The Navayuga group has been over the last decade seeking additional land promised by the state government to proceed

SEZ project and that the central government had raised objection regarding Buckingham Canal cutting through the land mass.

Credits: CR Sukumar – India Times

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Farm Land

Telangana real estate sector has high expectations from Budget

The budget is expected to be watched keenly by various sectors of the economy at a time when the economy is seeing a slowdown in growth.



HYDERABAD: Hyderabad’s real estate sector has a lot of expectations from this budget. Stating that to improve the economy in the country, the real estate sector, which is a major pillar should be given the needed stimulus, the builders and the property developers are expecting a slew of reforms.

The budget is expected to be watched keenly by various sectors of the economy at a time when the economy is seeing a slowdown in growth. One expectation that is making rounds is a possible revision in the affordable housing limit, increased limit on interest on home loans and scrapping of long-term capital gains tax (LTCG) on the sale of properties. Speaking to Express, Jaideep Reddy, vice president of CREDAI, Hyderabad, said, “Affordable housing needs to be taken into serious consideration if the sector has to grow. The said limit of `45 lakh is on the lower side. Accordingly, the expectation is that the said limit would be revised upwards.”

He added, “We are also hoping for some relaxation in personal income tax slabs for the individuals. With this, surplus money can come back to the industry.” Another developer said that the probable scrapping in the upcoming budget of LTCG tax on the sale of properties will result in a higher amount of returns in the hands of investors. Given the rising interest and property rates, it is every home loan payer’s wish that there should be an increased limit on interest on home loan to at least `4 lakh per annum in the upcoming budget, said General Secretary, CREDAI, Rajasekhar Reddy.

Credits:Express News Service

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Farm Land

Farmland for sale by NEEMSBORO FARMS NARAYANA KHED, Hyderabad

Farmland for sale by NEEMSBORO FARMS NARAYANA KHED, Hyderabad



About Property

Address: Near Bidar, NARAYANA KHED, Hyderabad, Hyderabad

Small investment on agricultural land and smart returns in short period
1.605 sq.Yards (5 guntalu) 300000/- Only
2.Each plot 50 malabar veepa trees
3.Spot registration
4.Pass book free
Location highlights:
1.20 kms to nimz (National investment and manufacturing zone)
2.30 kms from bidar, karnatraka
3.40 kms from zaheerabad
4.2kms from mandal head quarter nagal gidda
5.12 kms from narayankhed
6.0.5 km from bidar to nanded national highway
Project highlights :
1.30 feet & 20 feet internal roads
2. The land is fenced with barbed wire and security
3. Water storage system
4.Electrical transformers
6.Club house with all amenities in 2 acres of land

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Farm Land

Hyderabad Real Estate Witnesses A Boom Amidst Slowdown

Property prices in Hyderabad are relatively lower when compared to other metropolises like Mumbai and Bangalore.



The past decade was nothing short of a roller coaster ride for India’s real estate investors. With a multitude of factors, such as the demonetization, RERA, GST, and the more recent NBFC crisis coming into the picture, the sector’s growth prospects have taken a dip during recent months. Oddly, though, the real estate space in South India managed to flourish during a time when larger markets in other parts of the country struggled with declining sales. Apart from India’s IT capital Bangalore, the Hyderabad market showed great potential, eventually emerging as one of the hot destinations for PE investments in the real estate space.

According to data released by PropTiger, it was the only metro city in India where property prices increased by 17% during the first quarter of FY 2020 on a year-on-year basis. While this golden run has continued since the State bifurcation in 2014, activities in the Hyderabad’s real estate space have doubled only recently; in the last couple of months, to be precise. Industry estimates suggest that annual commercial leasing in Hyderabad has gone up from 4-4.5 million square feet to 9 million square feet, trailing only Bangalore, where the average is 13 million square feet.

Infrastructural improvements, increased inflow of working professionals, along with the government-led initiatives towards the ease of doing business have worked in favour of Hyderabad as well as its real estate sector. Moreover, with tech giants like Amazon and Apple making their way into the City of Pearls, the market has witnessed a sudden upsurge in the absorption, supply and cost of the property. Given this interesting scenario, let’s take a closer look at the fundamental growth drivers that have impacted the real estate market of Hyderabad.

New launches propelling the growth of commercial office space 

Home to numerous tech start-ups and global firms, Hyderabad is billed as the next IT hub of India. Last month, Amazon opened its biggest campus outside the US in this city. Located in Hyderabad’s financial district near Hi-Tech city, the campus covers an area of over 9.5 acres and is expected to house 15,000 employees. This is, in fact, amongst the largest centers of an MNC in India. Hence, it’s no secret that commercial office projects are driving investments in real estate and realty players are bullish on the Hyderabad market. Even outstation developers are currently eyeing the local market, thereby indicating excellent growth potential.

Higher demand for rental housing 

Hyderabad is a preferred destination for both students and salaried professionals. Every year, thousands of youngsters migrate to this city for better career prospects. Sample this, one-third of Amazon’s total India employee base works from Telangana, of which the majority resides in Hyderabad. This explains the growing appetite for rental housing and therefore more investment opportunities for property builders and home-owners alike. Besides corporate executives, college and university students are seeking rented accommodation facilities. In addition, the emergence of co-living space providers has further bolstered the state of the residential real estate in Hyderabad.

Reasonable pricing of properties

Property prices in Hyderabad are relatively lower when compared to other metropolises like Mumbai and Bangalore. And, this is what gives this city a competitive advantage in terms of real estate investments. While a handful of real estate giants operate in Hyderabad, the market is yet to get monopolized. As such, there are equal, if not more, opportunities for smaller and up-and-coming companies. The city has always been an IT/ITeS and R&D destination, but more avenues are now being explored. The residential and retail real estate, for example, is witnessing a massive uptick in terms of sales. Subsequently, co-living players are foraying into Hyderabad’s market, carving a new niche for themselves. Thanks to these abovementioned factors, Hyderabad is fast turning into a top real estate investment destination, presenting unparalleled opportunities to realty developers, buyers and even operators.

Credits: Sudhanshu Kejriwal

Disclaimer: The views expressed in the article above are those of the authors’ and do not necessarily represent or reflect the views of this publishing house

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