Hyderabad: Revenue officials gift realtor land worth Rs 2500 Cr

Hyderabad: Telangana revenue officials on Thursday gifted land worth Rs 2,500 crore in Jubilee Hills to a real estate owner who has the benami ownership of a realty firm.

In a recent survey conducted at the location, the revenue department declared 54 acres of land in Guttabegumpet village as private land, removing the prohibitory orders under section 22 A of the Registration Act, 1908.

This move by the department allows registration of the land. The transfer of property was under wraps for quite some time, however, the recent raids on realty firms by the Enforcement Directorate and other central agencies on various firms have brought it to the fore.

The realty firm seems to be quite confident of favorable orders, as it prepared agreements of sale for plots at Rs 2 lakh to 3 lakh per square feet, even before the prohibitory orders were removed. The land in Jubilee Hills was transformed to the realtor in the same manner in which government land near Manikonda was given up a few months ago, reported Deccan Chronicle.

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The land in question was first sold to a person named Khaja Kareemulla Khan by the Nizam, however, the family’s claim of buying the land from the Nizam was rejected by authorities in the 1950s. However, the current owner of the 54-acre land plans to build a world-class township.