MHADA land not being given back: Jain

PUNE, Sept 29: Minister for Housing Sureshdada Jain today categorically denied that Maharashtra Housing and Area Development Authority (MHADA) was giving up land allotted to it. The minister, who was at Takwe, off Kanhe Phata for the bhoomi pujan of Kinetic Transportation Products (KTP) of the Kinetic Engineering group was reacting to reports that MHADA was returning land to private parties.

“ The controversy has disappointed me as a person,” he told reporters here. He said the State Government would complete 200,000 tenements by 1999. By December 1999, around 50,000 tenements will be allotted. Commenting on the funds to be raised for the ambitious project, the minister said that Rs 600 crore would come through equities and a few crores worth land as leverage. He foresaw little problems in raising funds. Housing and Urban Development Corporation had agreed to allocate Rs 2000 crore to the Government, he said. The first Rs 700 crore will be released by March 1999.