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Private companies agree to pay dues to Telangana government
The Cabinet sub-committee on Wednesday held a review of pending projects under joint venture housing projects and the dues to be paid by private companies to the government.
Hyderabad: The Cabinet sub-committee on Wednesday held a review of pending projects under joint venture housing projects and the dues to be paid by private companies to the government. These projects were taken in the undivided State. The sub-committee gave its approval for registering the properties in the name of buyers.
- The companies, which have taken up projects under joint venture, owe Rs 700 crore to the government
- Two firms, Ramky and Subrabhat, have consented to pay dues
The sub-committee held a meeting with the construction companies and discussed the issue. The projects were taken up on profit sharing basis between the government and the private companies. The companies had failed to pay dues for the past 12 years.
Of the total 19 joint venture projects taken up between 2001 and 2004, only one project was completed and the works for most of the projects were pending at different stages. In some cases, the work on some project had not yet started.
The companies, which had taken up housing projects under joint venture scheme in and around Hyderabad and other parts of the State owed nearly Rs 700 crore to the government as part profit sharing mode. The sub-committee Chairman and Housing Minister A Indrakaran Reddy said the committee held talks with Ramky Infrastructure Limited and Subrabhat.
Ramky had agreed to pay Rs 64 crore to the Housing Department under the two projects taken up in Hyderabad and Khammam districts. The government would also get Rs 100 crore additionally in the form of registration of the properties and VAT. The company had also agreed to pay market price for 2.65 acres of land allotted in the State capital.
Subrabhat company owed Rs 12.84 crore to the government. The company agreed to pay market price to the unutilised 1.33 acres of land. Finance Minister E Rajendar and Transport Minister P Mahendar Reddy and Housing Secretary Ashok Kumar were present at the meeting.
