Emaar Lands next on KCR’s Target list!

Telangana government is exploring all possible ways to take over the vacant land in Emaar MGF properties. Out the total 532 acres allotted by the then YSR government, more than 100 acres are still lying vacant.

Nearly 250 acres was utilized by Emaar to build a golf course. In a big fiasco, several politicians, film stars and high profile personalities bought 135 villas at Rs 5,000 per square yard when the market rate was at least Rs 45,000 per square yard, causing a loss to the government as the APIIC is in partnership with Emaar MGF in this deal.

The allotment was made against the norms by the then government and subsequently 12 persons, including politicians, IAS officers and industrialists were benefited from the deal and are now facing the trial. There are more than a dozen cases pending regarding these lands in various courts. The officials are vying all possible options on whether the government can take over the land.