For the first time in the annals of the state’s history, the Government of Telangana, which is facing acute fund shortage, hopes to fill its coffers by regularizing the land in an industrial area.
In all, 110 acres of land in Azamabad Industrial Area near Musheerabad in Hyderabad is ready for regularization. Upon payment of the market value, the land will be converted into freehold land. If all this is completed, the state exchequer will get about Rs.2,000 crores. Moreover, the regularization allows the use of the land for any purpose. Therefore, the regularization will benefit the land allottees and industrialists. Officials felt that the regularization of the industrial space will put full stop to misuse of the land. It may be recalled that the Cabinet has already approved the Azamabad Industrial Area (Termination and Regulation of Leases) Amendment Bill.
