The High Court, on Tuesday, rejected the petition of Lanco Hills, that said that the land that it had purchased for the construction of the Lanco Hills Technology Park does not belong to the Andhra Pradesh State Wakf Board.
Disposing of the petition, the court observed that the 1,654.32 acres of land allotted to Lanco Hills for the construction of the IT park belonged to the Wakf Board.
The court advised Lanco Hills to settle the ownership dispute at the Wakf Board Tribunal.
Earlier, the Wakf Tribunal stayed the constructions at Lanco hills, following the objection raised by the Wakf Board.
Following the High Court's orders, the Rs. 7,200 crore mega-project of Lanco Hills is likely to hit a road block.
The Lanco Group had proposed to build about 30 million sq ft of built-up space. As many as 12 towers were originally proposed to be constructed in Lanco Hills.
The state government had sold 1,654.32 acres of land belonging to Dargah Hazrath Hussain Shah Wali in Manikonda village, estimated to be around Rs. 32,000 crore, to a group of multinational companies and IT firms at throwaway prices. (INN)
filed in:Wakf Board, Lanco Hills, Hyderabad Real Estate, Andhra Pradesh High Court