Real estate projects back on track

Real estate projects back on track in Steel City after High Court’s order

Jamshedpur No Comments on Real estate projects back on track in Steel City after High Court’s order 1259

Jamshedpur : Several projects of malls, multi-storied marketing complex and hotels that were in halfway house since the past one year or so in the steel city have finally started to take shape.

The builders and real estate operators have started the construction work in their respective projects recently following Jharkhand High Court orders.

” We welcome the move of the court. We are coming up with the multiplex-cum-IT Park along the Sonari marine drive . However, we were forced to stop construction immediately after the administration’s ban on construction in September 2012.

In view of the Jharkhand High Court’s fresh ruling, we are looking forward to start construction,” noted builder.

The lease holders includes mainly JUSCO that is getting a shopping mall and multiplex constructed, Prakash Jha’a shopping mall, XLRI’s extension of educational institute, Indian Red Cross Society’s 25-bed hospital, Tata Bluescope factory, Kerala Samajam Model School’s playground, Ram Krishna Mission Vivekanand Society schools’ extension work, Singhbhum Homeopathy Medical College extension construction work, Tata Robins Fraser factory extension construction site, Tata Consulting Engineers office construction site.

The state government had on September 22, 2012 ordered for immediate suspension of construction work at all the 59 plots under Tata Sub-lease area.  As a fallout of the administrative move, a section of builders had in October 2012 moved the Jharkhand High Court challenging the state government’s step. 

The Jharkhand High Court had in its interim order in 2013 gave a judgement that the parties who are interested to go ahead with the construction work can do so after furnishing an affidavit that in case of any adverse judgement, they would hold themselves responsible and no compensation as such would be paid to them.  

It may be noted that that Chief minister Arjun Munda had ordered the land reform and revenue department to ensure hundred percent status quo on all construction work going on in Tata sublease area in Jamshedpur. The order was issued based on the recommendations of the Debasish Gupta Committee on sub lease of land by Tata Steel.

The chief minister had also asked the department to not process any sub lease documents for areas within Tata Steel lease area till further order. Sources in CM secretariat said that the decision was taken by Munda after the Debasish Gupta committee found large scale irregularities in sub lease by Tatas.

In the light of the High Court’s interim order, as many as nine builders went ahead with the construction work having submitted the necessary affidavit, but the majority of the builders waited for a final judgement on the issue.

One of the entrepreneurs, Rakesh Singh, who has the project at Bistupur said that he was resumed the construction at his project site.

The multi-crore civic amenity projects that are coming up in the city include Jamshedpur Centenary Mall and P. M Mall both at Bistupur, multi-layer parking also in Bistupur, Hotel Hayat on marine drive at Sonari.

The projects which have already been completed and got functional include the parking-cum-marketing complex at Sakchi, Hotel Alcor and Hotel Ramada, both located in Bistupur.

Meanwhile, Jamshedpur Notified Area Committee (JNAC) is all set to start monitoring the construction work at the Tata sub-lease area after the construction work has resumed recently.

Revealing about this decision, the JNAC special officer, Deepak Sahay said that the construction work at several project sites has begun after a gap of over a year. 

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