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OU to Review All Land Lease Pacts, Eyes Windfall Gain

OU is entitled to renegotiate its lease agreements at any point of time. The varsity officials have already communicated their decision to the parties concerned.

Published: 23rd May 2015 06:03 AM  |   Last Updated: 23rd May 2015 08:01 AM   |  A+A-

HYDERABAD:  In the wake of the controversy over the State government’s decision to takeover 11 acres from it to shelter the poor, the Osmania University has decided to review the status of its lands and reframe lease agreements.

About 20 institutes including the National Institute of Nutrition, English and Foreign Languages University (EFLU), Institute of Public Enterprise (IPE), Centre for Economic and Social Studies (CESS), Forensic Laboratory and the Andhra Mahila Sabha, are functioning on lands leased by the OU. In addition to them, the OU has also given its lands on lease to the State Bank of Hyderabad, Indian Oil Corporation, Transco, CPDCL and others. It has given about 200 acres on lease while cases pertaining to 100 acres are pending in courts.

bank.JPG“Lands were given on lease at very cheap prices earlier. In some cases, lands were given at the nominal price of one rupee per acre. These lease agreements were never reviewed. In the changed circumstances, where land has become very valuable, we want to rewrite all the lease agreements according to the latest lease rates fixed by the government,” said N Venkateshwarlu, joint director, estate cell, Osmania University.

OU is entitled to renegotiate its lease agreements at any point of time. The varsity officials have already communicated their decision to the parties concerned. The review may begin in a week.

“Lands were leased for various purposes like community development and facilities for students and staff of OU. Lands leased to petrol bank, post-office etc are part of community development. Lands were also leased to help set up institutes like the homeopathy college,” Venkateshwarlu said. If the leases are reviewed as per the changed rates, OU will stand to get a windfall.

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