5.5 acres of land estimated to cost Rs. 100 crore
Hyderabad, March 31, 2007A deadly blow to noted film actor and former MP G Krishna, the State Government reclaimed 5.5 acres of the land alloted at Jubilee Hills to Padmalaya studios owned by the film actor. The value of the land is estimated to be over Rs. 100 crores.
According to the Hyderabad district authorities said that the land was reclaimed as Krishna sold it in violation of the guidelines framed at the time of allotment of in 1983. It may be recalled that Padmalaya studios was alloted 9 acres in Jubilee Hills in 1983 at Rs. 1.75 per square yard to developing a film studio. The condition was that the land not be be sold to others and no activity other than cinema related work to be taken up there.
The Padmayalaya studios sold 5.5 acres to Zee Telefilms Private limited and 18 others a few years ago and signed a sale deed agreements with them. The buyers put up boards claiming ownership and recently applied for permission to take up construction activity. The revenue authorities issued a notice a few days ago and not satisfied with the reply, the revenue authorities removed the boards put up by various persons and took possession of the said land.
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