HMDA need not refund in Golden Mile project
Hyderabad- Hyderabad Metropolitan Development Authority (HMDA) will now not have to refund Rs 500 crore to the successful bidders of land in its Golden Mile project at Kokapet.
This has come as a relief to HMDA as the order regarding the same was directed by the division bench of Andhra Pradesh High court on Dec 27.
Earlier in April 2010, the judgement of refunding was given by a single judge because the state could not inform bidders about the unsettled cases of auctioned land and could not deliver possession of the same. It also said that if it failed to repay it should pay 9 percent interest per annum from the date of deposit, till the date of payment.
In July 2006, the Hyderabad Metropolitan Development Authority (earlier called as HUDA) bidded 70 acres in Kokapet village of Rajendranagar mandal. This auction gave them Rs 703 crore out of which Rs 435 crore were directly paid by bidders to HMDA.
After that many bidders registered their complains in court regarding no information about the unsettled cases of auctioned land and could not deliver possession of same. Then HMDA went in appeal.
Knowing that some bidders were aware of the unsettled cases over land, the division bench came to a decision to not refund. Requests of refunding money by several real estate firms that bid land in the project were also rejected by them. The court explained that the bidders can seek relief from an appropriate forum for non-fulfillment of contractual obligation.
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Golden Mile project, Golden Mile project court orders, Golden mile project leagal issues, HMDA, HMDA projects, HUDA, Hyderabad, Hyderabad Metropolitan Development Authority
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