Telangana cancels land given to AP State Finance Corporation

 

Hyderabad: The Telangana government on Thursday issued orders cancelling the 253 acres allotted to AP State Finance Corporation on the city outskirts as it was lying vacant and was vulnerable to encroachment.

 

The land was allotted to APSFC by the YSR government in August 2007 as the government’s equity in the organisation. The corporation is yet to be bifurcated between AP and TS, and there is a tussle for its control.

 

The land was allotted in Gajularamaram in Quthbullapur mandal of Ranga Reddy district on lease for 99 years at Rs 40 lakh per acre.The APSFC was asked to allot appropriate shares to the government covering the value of the land and utilise these to raise its capital base. 

 

After bifurcation, the TRS government asked the Ranga Reddy collector to initiate the process to take back the land.The collector’s report stated that RDO had reported that the land was being encroached upon.