State Govt purchases 4 kanals of land
Srinagar : Much to the relief of the people of J&K particularly patients who were not getting subsidized State Government accommodation in Mumbai; the Lieutenant Governor Administration has bought 4 Kanals of land for construction of J&K house in Navi Mumbai area.
Top sources in the administration told KNS that the present J&K administration has taken keen interest in getting this property in the name of J&K.
The file was processed swiftly in different departments to release the Rs 4.78 crore to the Maharashtra government due to the personnel efforts of Advisor to Lt Governor Farooq Ahmed Khan and Chief Secretary.
“The work on this ambitious project will start in ending March,” he said.
Official sources added that Advisor Khan and Chief Secretary have directed for early start of the project.
Notably, J&K Govt owns 9.8 Kanals of land at plot No 19, Ld Ruparel Marg, Napean Sea Road, Malabar Hill Mumbai which is considered as one of the prime locations in the Maharashtra.
However the land has been leased out for 90 years to M/S Sanghvi Construction Company Mumbai at an annual premium of Rs 5. Lakh. The agreement for the lease was signed on 17th June 1981 between then law secretary J&K Government and M/S Sanghvi Construction Company and the lease period of 90 years begins from 1st June 1991.
Pertinently, in the year 1992, the Mahrashtra Government had offered land to every state for construction of their Bhawans. However J&K Government did not show any interest then, officials said.
A real estate company official in Mumbai told KNS that the present market rate of the land is around Rs 200 crore.
It is important to mention that Sanghvi Construction Company has constructed a multi-storied building with 12 duplex flats on the land and is earning around Rs 2. 5 crore rent per annum (KNS).
