LAND EXCHANGE LIKELY AS PER MARKET VALUE

Land exchanges between the Defence Ministry and the Telangana Government will be based on valuations as per market rates. Defence authorities will only settle for alternate lands that fulfil this condition.

After submission of the Telangana Government’s proposal to the Defence Ministry, for allotment of its properties in Secunderabad, the DirectorGeneral of Defence Estates (DGDE), Delhi, has sought reports from officials based in Telangana.

A Defence official, on condition of anonymity, said, “We will be compiling data pertaining to the valuation, total acreage, suitability of land use, and development in the adjoining areas in the next 10-15 years, for lands that have been shown to us at different locations. The final call will be taken by higherups in New Delhi.”

Officials of the Roads and Buildings Department have confirmed that land exchanges will be based on valuations, so that it will be win-win situation for both parties. TS is seeking at least 60 acres of parade grounds, the market rate of which ranges from `3,000 crore to `3,500 crore. According to officials of the Roads and Buildings Department, one acre is valued between `50 crore and `60 crore. If the Centre agrees to hand over the ground for the construction of a new Secretariat, the Telangana Government will have to compensate it by allotting an alternate land.