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The Land Allotted To Bhasin Group In Trouble?

Courtesy/By: Snigdha Kashyap | 07 Jul 2018

The land allotted to The Bhasin Group in Greater Noida by Uttar Pradesh State Developmental Corporation might be in trouble as it did not followed the proper bidding procedure. Yamuna Expressway Industrial Development Authority has launched a probe to investigate bidding procedure followed to allot 40,505 sq m of land to Bhasin Group in Greater Noida to build a hotel and multiplex after following the directions of former Meerut divisional commissioner DR. Prabhat Kumar.

According to Yeida official the bidding for the said lnd began on May 27,2006 and ended on June 7, 2006. During this time no bidder came forward. The bidding period was not extended and bid was not floated again

On July 5, 2006 three bidders along with Bhasin Group applied and were allotted the said land at a lower circle rates.The Uttar Pradesh State Developmental Corporation had allotted the land to Bhasin Group at the rate of Rs 9,001 per sq m instead of actual rate of Rs 12,000 per sq m.

“Bhasin Group and others were allotted the land in July without following any proper procedures. We will submit our report to the Meerut commissioner in two days,” Arun Vir Singh, CEO, Yeida said. If the probe finds out the proper procedure was not followed while allotting the land , the administration will cancel the deal.

Courtesy/By: Snigdha Kashyap | 07 Jul 2018