Bhopal | The Bhopal district administration has taken possession of a 20 acre government land here worth Rs 350 crore, rented to a Mumbai-based person six decades ago, after cancelling its lease for violation of norms, an official said.
The land in Sewania Gaud area, near Upper Lake, was leased to the person in 1963 and the same was renewed in 2005, Bhopal Collector Ashish Singh said in a release.
On visiting the spot, the district administration officials had found violation of the lease deed norms, he said.
The lease deed was cancelled on June 1, 2020 as the land was not being used for the given purpose, he said.
After it was declared as the Madhya Pradesh government's land, the administration took over its possession on Saturday, the collector said.
As per the market value, the price of the land is around Rs 4,000 per square feet, totalling up to nearly Rs 350 crore, the release said.
The cost of the land as per the collector's guideline rates (for the purpose of registration) is around Rs 130 crore, it added.
