The Hindu : Andhra Pradesh News : Investors cautioned against buying industrial land

Online edition of India's National Newspaper
Wednesday, Nov 24, 2004

Andhra Pradesh

Andhra Pradesh - Others

Investors cautioned against buying industrial land

By Our Staff Reporter

PATANCHERU, NOV. 23. With some real estate firms trying to sell away land allotted for industries, amid highly polluting industries in the Patancehru Industrial Estate, the Andhra Pradesh Industrial Infrastructure Corporation Limited (APICL) has asked investors to be cautious before venturing into any agreement.

The Patancheru Industrial Estate, which was founded in 1974, has now spread into five more phases of development. Except five acres of vacant land in phase five, 1,136 acres of land has been allocated to hundreds of industries.

As per law, the purchaser of the land was required to start an industry within two years and the titleholder permitted to sell the land only for industrial use.

In recent times, a few real estate firms, acting as agents for industries, have opened shop on the Hyderabad-Pune highway near Patancheru.

A 20-acre plot belonging to a sanitaryware manufacturer has been offered to the public. After the grand inaugural ceremony, the APIIC zonal office issued a public notice cautioning people against buying plots in the chemical zone.

With pressure building on the real estate firms, now it has changed its tune and the marketing staff off-the site tells the odd inquirer that the land is for industrial purposes only and few plots are already sold.

Unfit for living

According to the Executive officer of the APIIC Zonal office in Patancheru, P.Venkat Rao, the groundwater and ambient air in the industrial estate is highly polluted and one must be aware of the fact that only industries would survive in this locality.

While pointing out that one would need a `No objection certificate' (NOC) from the APIIC before going to the Patancheru sub-registrar's office for registering the site on one's name, he said that high land value in the twin cities is driving the middle class investor to the outskirts.

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