Deccan Chronicle 23.04.2010
HMDA ordered to repay Kokapet auction money
April 22: The Hyderabad Metropolitan Development Authority (HMDA) received a major set back from the Andhra Pradesh High Court on Thursday as the court directed to refund the money of successful bidders of its prestigious Golden Mile Layout project at Kokapet.
The HMDA, erstwhile Huda, had auctioned 70 acres in Kokapet village, Rajendranagar mandal in July 2006.
The auction had fetched Huda Rs 703 crores, including a bid of Rs 14.5 crores per acre for a five-acre plot. The bidders paid to the Huda Rs 435 crores up front.
Reputed names like Prestige Gardens Estate Group from Bengaluru, Today from Delhi, My Home Constructions Private Ltd., Hyderabad, Lake Point Builders, Mumbai, Madhucon Properties, Pioneer Telafone Ltd. of Viceroy group, IBC Knowledge Park, Bengaluru, and Kailash Ganga Constructions were among the successful bidders.
However, the bidders approached the court as there was delay in handing over the property to them and contended that the authorities did not inform them that there were writ petitions pending with regard to the land.
Mr K.S.B. Ali and others who are claiming to be legal heirs of Nawab Nusrat Jung -1 have been fighting for the lands for several years.
Justice L. Narasimha Reddy while allowing the petitions directed the HMDA to refund the deposits to the petitioner within three months.
If it fails to repay it should pay nine per cent interest per annum from the date of deposit, till the date of payment.
The court faulted the HMDA as it failed to disclose the defect or cloud upon their title.
