By Our Special Correspondent
The state government has won an 11-year legal battle after the Supreme Court on Tuesday passed an order in favor of the 540-acre endowment lands near Kukatpally Y Junction. The market value of these lands is about Rs.15 thousand crores.
These lands were originally donated to the Udasin Math by Kamalapati Baba Sahib in 1313 Fasli (1904). The Math is located at Hussaini Alam in the city, but it has 540.30 acres of land at Kookatpally Y Junction. The lands were leased out in 1964 and 1978. Later, the name of IDL was changed to Gulf Oil Corporation.
As the lease was terminated in 2011, the company filed a legal battle against the endowments department over the said land. However, the Supreme Court in its final judgment dismissed the company's appeal.
The endowments department leased these lands for 99 years in four spells--- for the first five years at Rs 5,148 per acre, for the next ten years at Rs 7,799 per acre and at Rs 10,444 per acre. Per annum for the next 10 years and Rs. 15,500. per acre per annum for the next 25 years. 13,092 and for the remaining 49 years.
A lease has been granted for a buffer zone for industry. However, the industry took real estate in total 538 acres of land belonging to the Math along with 300 acres of its own land.
The lease was terminated in the Endowment Tribunal in 2011 for breach of lease agreement. In 2011, the company filed a writ petition in the High Court.
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