The Andhra Pradesh Government has decided to resume land from Brahmani Infratech for not implementing the project.
The Government had allotted 250 acres of land in Ravirala village of Maheswaram Mandal of Ranga Reddy district close to Hyderabad in 2008. The land was allotted to Brahmani Infratech for development of IT SEZ, according to a statement.
A MoU was entered in July 2006. On April 15, 2011, notice was issued to company for non-implementation of the project. The promoters of the company had agreed to surrender the land.
Andhra Pradesh Industrial Infrastructure Corporation Limited, the nodal agency of the State, allotted the land for an integrated township cum IT project.
Brahmani Infratech is a venture promoted by Nava Bharat Ventures Group.
As per the agreement, the developers had to commence the work on the project within 12 months and construct 4.5 million sq.ft over five years and generate employment of 45,000 people.
The land was cancelled on the directive of the Chief Minister N Kiran Kumar Reddy so that it could be considered for allotment to other firms.