Kerala Real Estate Information

Monday, February 4, 2008

Cochin Cyber city issue - Minister K P Rajendran Interview



All the talks are about why HMT kalamassery land should not have sold to HDIL for cyber city project. All the media and opposition (within govt and the UDF)parties are after the blood of the industrial and revenue minister. Yes, since there was attempt to encroach the goverment land,it should be enquired and the conspirators must be brought to justice..

But what did HDIL do wrong ?.. how about some talks on establishing Cyber city else where? How about some talks on offering HDIL other options? Neither goverment nor the opposition [the so called ambassadors of vikasanam] seem to be interested in it. Needless to mention about kerala media! They are real parasites....

3 comments:

Thomas George said...

I do not think that HDIL did anything wrong. But, HMT did. When selling land, they had an obligation to inform the state government and pave way for the sales process.

Apparently, HMT has a history of litigation with the state government over land. They made sure that it became the buyer's problem by not advertising the tender in local newspapers.

HDIL is a real estate company. They build and sell. They are not into any job creation schemes. They are forced to toe that line to salvage the situation. If HDIL sells the property to others, will they put a clause that they have to ensure a certain amount of jobs in the title deed? How ridiculous will that be?

People really don't understand that economic activity automatically creates jobs. Any amount of guarantee will not work, if economic activity does not pick up.
In India, political parties pose a real "law and order threat". They can do anything without legal consequences. In Kerala, the problem is accentuated by all political parties using bandhs, hartals just at the drop of a hat.
I urge our political parties to drop "forced holidays" and violence as a means of imposing their will. Our state will be the best of all places in India, if they just step aside.

Kerala NRI said...

It turns out to be that an earlier court judgement lets HMT sell ~100 acres. They sold HDIL only 70 Acres.
Not sure what say state govt has in this case about the job creation requirements as it is a real estate deal between 2 non govt parties.
If at all HMT management did some under the table deals to sell the land for under value, that is a seperate issue to deal with. Probabaly central govt and court and the only ones who can intervene in this.

But, 70 acers for 90 Crore = ~1.29 laks per Cent. Since the original agreement (not the final registration) was signed 2-3 years ago, that price does not seem to be undervalue at all..

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