Hyderabad: Telangana State Tourism Development Corporation (TSTDC) has taken action against firms that failed to comply with lease terms and successfully recovered land worth Rs 1,000 crore.
Telangana tourism minister V Srinivas Goud while speaking to media on Sunday said that his department had taken legal action against defaulting firms, and recovered arrears of 50 crores.
Several companies had obtained valuable land in Hyderabad and surrounding areas in undivided Andhra Pradesh but failed to implement projects lands were leased for, even after a decade.
Following the directives of chief minister K Chandrashekar Rao, the tourist department booked cases against them after the formation of Telangana in 2014.
Srinivas Goud further said that the firms misused the land and even subleased it.
“Secunderabad Golf Course Pvt. Ltd was given 130 acres of land in Jawaharnagar, Shamirpet, in 2004 for the development of a golf course project,” he said adding that the bidder, Prajay Engineers Syndicate Pvt Ltd, failed to complete the project within the timeframe and also did not pay the lease fee and additional development share.
Instead, the developer filed a case against the government after it received notice of termination. The High Court on April 8 2022, ordered the former to pay Rs 5.27 crore within three days as per their undertaking.
When the developer then contested it before the sole arbitrator, he was given a period of 30 days to comply with the order.
“However, the developer failed to do that as well,” added Srinivas Goud.
“The TSTDC took over the possession of the property and will build a world-class branded showrooms centre,” he added.
“The TSTDC also took possession of open and worth 100 crores covering 4,600 square yards in Secunderabad, in addition to Yatri Nivas,” he said. The land was leased out to E-City Giant Screen (India) Pvt Ltd on June 22, 2002.
Notices were issued due to payment default and non-execution of the project following which the firm approached the court, and in a case of arbitration, the TSTDC was awarded 22 crore.
Warning of criminal action against those failing to pay the lease amount, Goud said, “Tourism officials took over the land and deployed security. Action would be taken if any firm failed to pay the lease amounts to TSTDC.”