Larsen and Toubro Metro Rail Hyderabad has sold 15 acres of land, allotted by
\nthe state government for future uses of the Metro rail project, near Raidurg
\nMetro Station to Rafferty Developments.<\/p>\n
L&T described the sale as a ‘slump sale’, and the estimated value of the land is reportedly around INR 1,500 crore. The government had initially allotted this
\nland to L&T for future requirements as part of their agreement and L&T had
\nalready constructed a building on 9 acres of this land at INR 200 crore.
\nHowever, L&T in the last year decided to sell the entire 15 acres of land and the
\nbuilding to generate income for purposes such as Metro Rail maintenance and
\nachieving break-even. In a statement released to the BSE, L&T Metro Rail
\nHyderabad said that the approval of the government of Telangana had been
\nobtained.<\/p>\n
As per the agreement with the state government, L&T is allowed to develop the
\nland for 33 years but is prohibited from selling it. It remains to be seen whether
\nthe control of the land will be returned to the government after 33 years of
\nagreement or if it will be owned by Rafferty.<\/p>\n","protected":false},"excerpt":{"rendered":"
Larsen and Toubro Metro Rail Hyderabad has sold 15 acres of land, allotted by the state government for future uses of the Metro rail project,<\/p>\n","protected":false},"author":1,"featured_media":4898,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[407,310],"tags":[],"class_list":["post-4897","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-hyderabad","category-metro-ways"],"_links":{"self":[{"href":"https:\/\/livzzy.in\/index.php?rest_route=\/wp\/v2\/posts\/4897","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/livzzy.in\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/livzzy.in\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/livzzy.in\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/livzzy.in\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4897"}],"version-history":[{"count":0,"href":"https:\/\/livzzy.in\/index.php?rest_route=\/wp\/v2\/posts\/4897\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/livzzy.in\/index.php?rest_route=\/"}],"wp:attachment":[{"href":"https:\/\/livzzy.in\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4897"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/livzzy.in\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4897"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/livzzy.in\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4897"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}