Hyderabad, May 09 (PW News): Lanco Infratech acquired the permission from the country’s apex judicial body for the development of its township project in Hyderabad. The company can now breathe easy with Supreme Court’s permission granting development of the project and can now sell the finished homes.
Construction on the Rs50 billion, Lanco Hill township project was halted in 2011 over a land ownership dispute with a religious group. The engineering and construction major, who purchased the land from the government in 2005, had shed an investment of Rs25 billion on the 100 acre project.
The company has completed construction of six residential towers and another six towers are under construction, informed a sourced from the industry.
PW News Bureau