No takers for DIL projects

Hyderabad: With real estate developers and construction companies reluctant to take up big projects, nearly 20 projects of the Deccan Infrastructure and Land Holdings (DIL), a subsidiary of the A P Housing Board, have got stuck.
DIL which takes advance clearances from the Airport's Authority of India for construction of high-rise buildings for big projects is also refraining from doing so now.
DIL had planned to submit applications to the AAI for clearances to construct integrated townships and star hotels with the joint ventures around various airports.
The company has got nearly 3,000 acres of land holding around the airports at Shamshabad, defence airports at Dundigal and Hakimpet, the old Begumpet airport and at Visakhapatnam. Most of the land was transferred by the government from Ranga Reddy district.
Nearly 20 projects, most of them joint ventures were planned with big developers around the airports as it expected there would be a huge demand for hotels and integrated townships.
Since Airport Authority of India (AAI)'s No Objection Certificate is required for construction of high-rise buildings, it was also planned to take all the permissions and preparing the documents by engaging consultants for the work by the end of the last year.
"Due to recession and global meltdown there is no demand for the projects and no major construction firms are coming forward. That is why we have given up the idea of taking NOCs from AAI in advance," a senior official of DIL told TOI.
The DIL, a subsidiary of Andhra Pradesh Housing Board (APHB), was created for construction of integrated townships, leverage of its land for development of integrated township and taking up joint ventures. The government promoted company has got a land bank of 7,000 acres mainly transferred land from Ranga Reddy and Hyderabad districts. The APHB holds 57.67 per cent of equity and the state government has 42.33 per cent equity in the DIL.
24/05/09 Times of India

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Categories: Airports May 2009