People who bought flats in Lanco’s major township at Manikonda can take a breather now. The Supreme Court passed orders to continue the construction activities at Lanco’s Rs 5,000 crore township project on which AP State High Court had issued stay orders prohibiting the construction work in the month of April.
On 3rd April, High Court issued orders against Lanco Hill’s major township project stating that the 108.10 acres of land at Manikonda which was owned by Lanco through international competitive bidding organized by the AP Government’s, AP Industrial Infrastructure Corporation (APIIC) belongs to the Wakf board.
This stay made both the state Government and the project owners file a petition in the Supreme court. In their petition the government stated that the land had already been allotted to various entities and if the final judgment goes in favour of the AP Wakf Board it assured that it would adequately compensate the board.
Taking this assurance into consideration the apex court granted stay on the High Court’s orders as well as on the AP Wakf Tribunal’s orders, and thus allowed Lanco to proceed with its construction activities. As of now the case is posted to the second week of August for further hearings.
Along with Lanco the state government had also allotted lands to Microsoft, Infosys, Polaris, Indian School of Business, Wipro, Emaar, etc., in the disputed land at Manikonda village.
Source: The Economic Times