Paper Projects

On the multi-crore Filmcity project,the Administration recently decided to terminate ties with real-estate giant Parsvnath. The initial deposit of Rs 47 crores may be refunded soon.

In case of Prideasia,Parsvnath’s another multi-crore real-estate venture,out of the total 1,314 houses only 140 have been booked. And even from these 140,many have sought refunds. Prideasia and its partner,the Chandigarh Housing Board,have started refunding the money. The houses ranged from Rs 51 lakh to Rs 6 crore.

The other three projects — Amusement-cum-Theme Park,Medicity and Phase III of the Rajiv Gandhi Chandigarh Technology Park (IT Park) — are also mired in controversies.

Last year,after some Right to Information (RTI) activists waved certain questionable documents on the conceptualisation and allotment of these mega projects to private players and the subsequent media reports,the Central Vigilance Commission (CVC) stalled all these projects.

Then earlier this year,the CVC ordered a vigilance probe into the projects and summoned their entire records. The probe is yet to be concluded. “The CVC will take its own time to complete the probe. We were asked to supply the documents and files pertaining to the projects,which we did. We are waiting for the report,” a senior UT Administration official said.

The Theme Park and Filmcity were to be ready by mid-2009.

Other stalled projects
Besides these five projects,some non-controversial projects have also been delayed,which,some say,is due to the “lackadaisical attitude” of the Administration.

The Modern Terminal Market (42 acres),Education City (96 acres) and Milk Village (100 acres) are some of these projects,which haven’t come up despite being conceptualised three years ago.

In case of the Education City (Educity),even agreements were signed with the Administration and initial deposits were made,but the project is still languishing in Administration’s files.

“The scenario has completely changed from what it was two years ago when we were interested in Educity,” one of the shortlisted players involved in the project said. “The Administration changed terms and conditions on its own,without even bothering to consult us. The present terms and conditions are not fit for us to become a part of Educity.”

Another shortlisted player added: “Educity could have been a beautiful gift to the city and society,but it has been killed even before it was born.”

Status
Filmcity (30 acres): The project has met a dead-end. The developer,Parsvnath,has asked the Administration to terminate the project and refund money. The Administration has agreed to the request in principle and is working out the modalities to refund the money.

Prideasia (123 acres): Work has been stalled on this real-estate venture of Parsvnath. The Administration is yet to clear certain parts of the project. CVC has summoned all records of the project,and investors,who had booked units,have cancelled their bookings. Process to refund their money is on.

Theme Park (73 acres): The project is being probed by the CVC after the Administration’s role was questioned. An RTI application revealed that the Administration allotted the project to a company,which offered 13 times less revenue than another company,which was dropped last minute.

Medicity (45 acres): Change in the project site and bending the terms and conditions led the UT Advisor,Pradip Mehra,to recommend a probe in the allotment of the project. At present,the project,which could have been functional by now,is being probed by the CVC.

It Park (Phase-III): As the administration was acquiring land for Phase III,farmers of the area protested. Now,the MHA has ordered not to proceed with any land acquisition till it gives an approval.