On Wednesday, in a turn of events the Lucknow Development Authority (LDA) took back the green belt land given on lease to a prominent hotel in Gomtinagar.
The official LDA statement read, “On completion of the lease period and alleged violation of lease terms by the hotel management, LDA vice-chairman Akshay Tripathi cancelled the allotment of the land,”
On Wednesday, in a turn of events the Lucknow Development Authority (LDA) took back the green belt land given on lease to a prominent hotel in Gomtinagar.
Tripathi said, “On February 17, 1994 the authority had given 14.217 acre of green belt land located in Vipin Khand, Gomtinagar on a lease of 25 years. Its lease period expired on February 16, 2019.”
“The hotel management submitted an application for lease renewal. Thereafter, the in-charge officer-acquisition, property officer and executive engineer were instructed to submit a report after conducting on-site inspection. On inspection, it was found that the terms and conditions of the lease agreement were violated by the hotel management,” he said.
“The green belt was used by the hotel management for business related activities like marriages, parties and other ceremonies. At the same time, under the lease agreement, the hotel management was to develop the green belt and keep it open to the general public for free entry, which never happened. Apart from this, the hotel management also did not fulfil the condition of allotment of 1,000 rooms every year to the tourism department included in the contract,” read the LDA statement.
The green belt will now be developed by the authority itself as a public park. It will open from Monday for the general public and the entry will be free.
The regulator determined that the project was ongoing when the real estate law came into…
Due Diligence Before Purchasing Property, Due diligence is an essential step in any real estate…
This follows a SEBI order on November 4 directing Embassy REIT to suspend Aravind Maiya…
Previously, Macrotech also acquired real estate firm Ivanhoe Cambridge's stake in the three entities, aligning…
LEED (Leadership in Energy and Environmental Design) certification has become a prestigious standard in the…
From January to September 2024, QIP issuances across all sectors totaled ₹75,923 crore, with real…
This website uses cookies.