Hyderabad: In the latest episode of its battle with L&T, Hyderabad Metro Rail Limited has demanded a massive hike in rent for a 42-acre parcel of land at Uppal Bhagat.
From the Rs 1.5 lakh per year that L&T was paying from 2012, HMRL in a letter on July 22 demanded a rent of Rs 21.78 lakh per acre.
L&T was allotted the land on lease by the state government to built a yard for pre-casting activities for the Metro Rail.
Sources said, L&T managing director and chief executive officer Shivanand Nimbargi had written to Chief Secretary S.P. Singh requesting the intervention of state government.
L&T said based on the determination made by the Chief Commissioner of Land Administration, HMRL was demanding rental at the rate of Rs 21.78 lakh per acre per annum.
L&T wrote that such a demand was “disturbing, being far in excess of the assumption which was made before commencement of works.”
It urged the governemnt to ensure that the land is continued to be charged as per originally agreed rates.
L&T said the project finances were strained severely because of time overruns; any additional financial implication would increase the project cost and affect its viability.
civic matters
- HMRL hikes rent manifold on a 42-acre parcel of land
- HMRL cites assessment made by the Chief Commissioner of Land Administration.
- L&T asks government to intervene, wants rent at old level
- Company cites cost overruns, says it could affect project viability
