Wednesday, Jan 26, 2005
Wednesday, Jan 26, 2005 |
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Kochi
By Our Staff Reporter
KOCHI, JAN. 25. The Vigilance Department has initiated an inquiry into the sale of a plot of land owned by the Greater Cochin Development Authority (GCDA) on the Marine Drive. The 59-cent plot had been in the thick of controversies. Efforts to sell the land had elicited three bids. Litigations on the sale reached the Supreme Court before Desai Homes bought it for Rs. 18.11 lakhs a cent. The authority sold the land through an open bid after being asked to do so by the Apex Court. The controversies began when the GCDA first put the plot on sale in 1995. The Bangalore-based Prakrithi Nirman quoted Rs. 19.01 lakhs a cent, but backed out of the deal. Bids were invited again in 2002 and it was awarded to Excel Properties for Rs. 8.01 lakhs a cent.
Re-tender
This decision was challenged in the Kerala High Court and the court ordered the first re-tender of the plot after admitting a petition that the land was sold arbitrarily by the GCDA at a low price. There was also opposition to the tender from the GCDA employees' union, which filed a complaint. The vigilance inquiry is based on this complaint, it is learnt. Holiday Properties based at Panampilly Nagar quoted Rs. 17.03 lakhs a cent, Desai Homes Rs. 15.26 lakhs and George Samuel Rs. 15.15 lakhs. However, the tender was not finalised because a petition against the High Court verdict was pending before the Supreme Court. In its verdict, the Supreme Court asked the GCDA to allow Excel Properties to participate in the open bid along with the other three. In the open bid, only Desai Homes placed tenders. However, the transfer of land is still awaiting approval from the Government.
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