Anantapur: Real estate boom has given a new twist to scam-hit Lepakshi Knowledge City land in Anantapur district.
Farmers, who had given away their land for the city and are yet to receive compensation from the APIIC or the Lepakshi Knowledge City have been selling the land, following a High Court order. The land sales have increased legal complications which is likely affect the government's move to set up industries.
Owners of almost 900 acres of land with pattas, issued between 1926-1954, are yet to receive compensation. The industries and commerce department entered into a Memorandum of Agreement (MoA) with Lepakshi Knowledge Hub Private Limited in December, 2008, and extended certain incentives. Lepakshi was supposed to invest Rs 8,000-Rs10,000 crore over 5-10 years and generate employment for around 1.5 lakh youth.
The AP Industrial Infrastructure Corpor-ation (APIIC) handed over 8,844.01 acres on NH-44 close to Devanahalli International Airport to Lepakshi in 2009 in the first phase, as against total of 12,000 acres in two phases.
