Unitech`s Agra project faces hurdle of Rs 237 cr
Vishal Sharma
New Delhi/ Agra. Despite winning a court case filed by land owners against land acquisition by Agra authorities for the proposed Unitech hi-tech city project on the Fatehabad road in Agra, the Unitech group is yet to begin the groundwork for the project.
Before it goes ahead with the acquisition of the remaining 1,703 acres, the Agra Development Authority has demanded a payment of Rs 237 crore from the Unitech group, which, it claims, has to be paid to those whose land is being bought by the authority for handing over to Unitech.
According to a source in the authority, Unitech had already paid Rs 37 crore as the initial payment for its project and the authority had gone ahead with the land acquisition under section (4) of the Uttar Pradesh Land Acquisition Act.
Legally, the source said, before the acquisition process could begin for a private developer, the builder was required to pay the complete land cost and in case of Unitech Hi-Tech city, this amount came close to Rs 237 crore for which, the builder had already been issued a notice.
Before the Unitech group paid this amount, the sources source, there was no way the land acquisition could move forward under section (6) of the Uttar Pradesh Land Acquisition Act.
Meanwhile, IVRCL Narsi, which has applied for another hi-tech city project on the Agra-Delhi highway, has decided to wait till the new government is formed in Uttar Pradesh. Narsi too, has been asked to deposit Rs 4.84 crore before the Agra Development Authority can proceed to acquire land for its project.
Narsi, which has also planned to develop its own software technology park in the proposed hi-tech city project, has already paid Rs 5 crore as the initial signing amount for the project but has deferred making further payments in the account due to the declaration of assembly polls in the state.
Before it goes ahead with the acquisition of the remaining 1,703 acres, the Agra Development Authority has demanded a payment of Rs 237 crore from the Unitech group, which, it claims, has to be paid to those whose land is being bought by the authority for handing over to Unitech.
According to a source in the authority, Unitech had already paid Rs 37 crore as the initial payment for its project and the authority had gone ahead with the land acquisition under section (4) of the Uttar Pradesh Land Acquisition Act.
Legally, the source said, before the acquisition process could begin for a private developer, the builder was required to pay the complete land cost and in case of Unitech Hi-Tech city, this amount came close to Rs 237 crore for which, the builder had already been issued a notice.
Before the Unitech group paid this amount, the sources source, there was no way the land acquisition could move forward under section (6) of the Uttar Pradesh Land Acquisition Act.
Meanwhile, IVRCL Narsi, which has applied for another hi-tech city project on the Agra-Delhi highway, has decided to wait till the new government is formed in Uttar Pradesh. Narsi too, has been asked to deposit Rs 4.84 crore before the Agra Development Authority can proceed to acquire land for its project.
Narsi, which has also planned to develop its own software technology park in the proposed hi-tech city project, has already paid Rs 5 crore as the initial signing amount for the project but has deferred making further payments in the account due to the declaration of assembly polls in the state.
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