Published On : Tue, Jul 5th, 2016

Hingna may emerge as coal bed and not as ‘hotbed’ of real estate market if…

Coal and Real Estate
In a move that could shatter the ‘business plans’ of real estate promoters eying a major chunk of commercial land in the booming Hingna area, Mahagenco has shot a letter to the Deputy Inspector General of Registration and demanded a halt to all the property transactions and construction on it in Hingna with immediate effect. The Mahagenco move stems from the fact that the power generating company has in April, 2016 signed an agreement with Ministry of Coal for excavation of coal in Mahajanwadi coal block which falls under Hingna tehsil and covers areas like Wanadongri, Raipur, Hingna, Dhangarpura, Sukali, Takali, Sumthana, Mondha and Panjari. In order to facilitate mining operation, Mahagenco has demanded total halt to all the property transactions and construction on it in Hingna with immediate effect. All these aforementioned areas have reportedly witnessed property deals in gigantic magnitude in the past many years.

If the Registrar Office abides the latest directives, then it will hit a series of housing schemes, and townships coming up in these areas. Moreover, many individual buyers have purchased the plots in Hingna, the fate of which has been lying uncertain in the wake of this development.

Moreover, recently, the Nagpur Improvement must (NIT) also undertook development of Sumthana and other villages under Nagpur Metropolitan Region Area Development Project. The letter sent to Deputy Inspector General of Registration by Mahagenco stated that for development of Mahajanwadi coal mine, Ministry of Coal has fixed targets for achieving commercial operations of the mine and huge penalties are pro-posed for missing the targets. Mahangeco needs help for timely completion of land acquisition. It may be recalled that Western Coalfields Limited (WCL) has requested NIT and State Government to exclude coal belt bearing area from Metropolitan Region Development Plan.

– Rajeev Ranjan Kushwaha (