NICE wants more land in B’lore for real estate

NICE wants more land in B’lore for real estate
New Indian Express

BANGALORE: The Karnataka Industrial Areas Development Board (KIADB) affidavit before the High Court says that the Nandi Infrastructure Corridor Enterprises (NICE) has been selling land in bulk in Bangalore, taking advantage of the Bangalore-Mysore infrastructure corridor project.

The NICE quotes Rs 27.3 lakh per acre for lands that are neither developed nor are they layouts. The KIADB cites a sale deed between NICE and Indian Machine Tools Manufacturers’ Association dated November 13, 2003 indicating the sale of 30 acres at Madavara and Madanayakanahalli village in Bangalore for Rs 3.07 crore, which is neither part of any township area nor is indicated in NICE project drawings.

The KIADB said no layouts can be formed at interchange around Bangalore. As for the land acquired and sold to the Association, it said, the land could not have been acquired at all and could not have been sold even if acquired because no township is proposed in Madavara village.

Large areas of land have been acquired or proposed to be acquired in and around Bangalore City though they are not needed along peripheral road and link roads. No township is envisaged along peripheral roads and link roads under the agreement. These are valuable lands, and the NICE wants them more in Bangalore.

The NICE, the affidavit said, has taken advantage of the BMIC project to enter into real estate business that the agreement does not allow.

The April 3, 1997 agreement required handing over of only 1499 acres of government land for the project but 5688 acres had already been given, of which 1177 acre 26 guntas fall in Bangalore Urban district. For link road and peripheral road, the land needed is only 978 acres.

‘‘These are the irregularities which have not been noticed,’’ the affidavit said. The Government has leased its lands to NICE for Rs 10 per acre per annum.

They revert to government on completion of 10 years of construction period and 30 years of concession period.

‘‘The present NICEL which has come into picture illegally can only get the benefits which the Consortium (VHB, SAB & Kalyani) had. The present company NICEL wants to sell away and mortgage any number of lands proposed to be acquired. It wants to justify the misdeeds of mortgaging and selling on the ground that it has to generate money for the project.

“It cannot be done for the reason that, it claims to be the assignee of the previous agreement with the consortium of companies. The consortium of companies represented that it had the financial capacity and expertise to implement the project. If that be so, NICEL cannot generate money from the lands acquired for the project,’’ the affidavit said.

The Government has leased its lands to NICE for Rs 10 per acre per year. They revert to the Government on completion of 10 years after construction.