AP cancels 24 acres land allotted to DLF firm
The 24 acres land allotted to real estate major DLF Building India by the Hyderabad Municipal Development Authority has been cancelled by Andhra Pradesh Government.
The 24-acre site was allocated to DLF located at Moosapet village in the busy Kukatpally area abutting the Hyderabad-Mumbai Highway.
The State Department of Municipal Administration and Urban Development late on Saturday cancelled the lease agreement entered into by DLF Buildings India Pvt Ltd and the Hyderabad Municipal Development Authority by issuing a Government Order.
The allotment cancellation was due to the failure to develop the integrated agricultural hub and also for failure to pay the market rent as per the agreement.
In regard to the same project, DLF had filed a complaint against a local real estate developer for wrongfully claiming to be their representative and entering into an agreement with the State. A separate investigation is now under way in the case.
To read more real estate news:
DLF’s Mumbai land sale deal captures strength
Source: Business Line
24 acres land, Andhra Pradesh Government, DLF Building India, Hyderabad Municipal Development Authority, Hyderabad-Mumbai Highway, Kukatpally, Moosapet, State Department of Municipal Administration, Urban development
[...] AP cancels 24 acres of land allotted to DLF firm [...]