Andhra Pradesh - Hyderabad   

IIIT's 62-acre land regularised

Special Correspondent

HYDERABAD: Chief Minister Y. S. Rajasekhara Reddy on Saturday announced that the 62-acre land on which the International Institute of Information Technology (IIIT) was constructed would be regularised at a nominal price of Rs. 1.5 lakh an acre.

"We have received request from the IIIT officials to regularise the land given on lease," Dr. Reddy said, addressing the fifth convocation here. The market value of the land in and around IIIT was Rs. 15 crores an acre and the Government would have earned Rs. 900 crores if it were auctioned.

But, the Government had decided to regularise the land at a nominal rate, he said amid applause from the audience.

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