In Hyderabad

As kokapet, the much hyped golden mile continues to be still under a cloud of uncertainity [ Latest is that the developers who purchased land here dont have land and the government doesnt have the money to pay their advanced back ] with no clarity in sight for the bada babus and companies that purchased land in this area, Tellapur is evolving to be the same.

At tellapur, 400 acres of land was auctioned off and was acquired by ICICI consortium at 4.21 crores per acre. Apart from paying for the land, the consortium consisting of ICICI, Nagarjuna construction and Tishman speyers, intends to invest around 4000 crores for the development of township in this land.

Now this whole 400 acres is in court as an Industrial cooperative society claims to be the owner while the government claims this land as the absolute owner.

Technorati : hyderabad, realestate