HYDERABAD: Telangana Sports and Tourism Minister V Srinivas Goud on Sunday announced that the State Tourism Department took action against companies that failed to comply with lease terms. The Department has reclaimed land worth approximately Rs 1,000 crore.
On April 11, the Telangana State Tourism Development Corporation (TSTDC) took possession of 130 acres of land worth around Rs 520 crore located in Jawaharnagar, Shameerpet and Secunderabad Golf Course. The land was leased to M/S Prajay Engineers Syndicate Pvt Ltd in 2004 to develop a golf course.
The lessee failed to complete the project within the stipulated time and defaulted on the payment of lease rentals and Additional Development Premium (revenue share) to the government. Despite multiple notices and ample time given to the lessee to rectify the defaults, the TSTDC took possession of the property.
Additionally, the Tourism officials also took over land worth about Rs 100 crore from City Giant Screen in Secunderabad on March 27, due to the non-execution of the project.TSTDC also terminated the lease agreement of the Durgam Cheruvu deck area, leased to AA Avocations for 10 years at a rent of Rs 1.8 crore per annum for a land area of 2.2 acres worth approximately Rs 250 crore for the development of food courts.