‘Industrial body amassed Rs 600 crore, should pay land dues’ | gurgaon | Hindustan Times
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‘Industrial body amassed Rs 600 crore, should pay land dues’

gurgaon Updated: Jul 25, 2013 01:26 IST
HT Correspondent
HT Correspondent
Hindustan Times
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Industrialists of IMT Manesar are demanding that the Haryana State Industrial and Infrastructural Development Corporation (HSIIDC) pay the enhanced land compensation from its own coffers.

Manoj Tyagi, general secretary of IMT Industrial Association, alleged that HSIIDC had amassed over R600 crore by auctioning around 60% of the land for commercial and industrial plots as against the stipulated 55%. This money, he said, should be used to pay the extra amount.

According to the Haryana Development and Regulation of Urban Areas Act, 1975, only 55% of a project area can be used for commercial purposes while the rest should be utilised for developing utilities like roads, drainage, parks and green belts.

The commercial land use can be extended up to 10% with approval from the town and country planning department. Industrialists claim approval wasn’t taken in this case.

According to the Manesar Industries Welfare Association (MIWA), HSIIDC sold off the land during the development of Phase 2 of IMT at about R60 lakh per acre.

However, MIWA alleged that the development cost of the industrial area was not beyond R30 lakh per acre. “The real cost of developing one acre of land comes to around R36 lakh considering 65% as saleable area, giving HSIIDC an additional profit of nearly R24 lakh per acre,” said a MIWA representative.