Emaar's Hyd project under Telangana govt's scanner
The Emaar Hills Township is a joint venture project between Emaar Properties and the AP Industrial Infrastructure Corporation
Jan 17, 2015
Source : Business Standard
K Chandrasekhar Rao, Telengana CM

 

Telengana: chief minister K Chandrasekhar Rao today directed the officials to examine the scope for taking over the golf course and other facilities created by Emaar Properties in a government land allotted in Hyderabad city way back in 2005.

During a review meeting on the Emaar project, the officials briefed the chief minister that a large extent of the 532-acre land allotted to the company still remained vacant and there were facilities such as a private golf course, villas and an SEset up in the allotted land, the chief minister’s office said in a statement.

It may be recalled that the Emaar Hills Township, a joint venture project between Emaar Properties and the AP Industrial Infrastructure Corporation (APIIC) had already run into rough weather when the CBI had investigated into the alleged financial irregularities.

According to the statement, the chief minister has asked the officials to see if the government can itself manage these facilities. However, it did not give any further details on what it proposes to do with the vacant land or the agreement signed by Emaar and the then government of the undivided AP pertaining to this land.

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