The Haryana State Infrastructure and Industrial Development Corporation (HSIIDC) on Wednesday released the details the calculated amount for the 350.72 acre of land that was transferred to real estate developer DLF. This comes after a Comptroller and Auditor General report lambasting the Haryana government over the land deals.
According to the official communication released by HSIIDC, the realisable amount by the developer calculated by the HSIIDC to the developer stands at Rs 2,572 crore as against Rs 2,142 crore calculated by the audit.
The HSIIDC spokesperson said the audit used the same multiplication factor for forest land and plantation as applied to the residential and commercial land which is 2.79 times of the collectors rate.
The valuation, according to HSIIDC was not based on rational principals as the forest and plantaion area does not fall under the revenue generation activity.
Till the filing of the report, the officials from CAG (Haryana) were not available for comments.
According to the official communication released by HSIIDC, the realisable amount by the developer calculated by the HSIIDC to the developer stands at Rs 2,572 crore as against Rs 2,142 crore calculated by the audit.
The HSIIDC spokesperson said the audit used the same multiplication factor for forest land and plantation as applied to the residential and commercial land which is 2.79 times of the collectors rate.
The valuation, according to HSIIDC was not based on rational principals as the forest and plantaion area does not fall under the revenue generation activity.
Till the filing of the report, the officials from CAG (Haryana) were not available for comments.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%