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Govt lost Rs 24.73 crore plot allotment to D Y Patil sports Academy

By Staff
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Mumbai, Apr 18 (UNI) The City and Industrial Development Corportion (CIDCO) lost a revenue of Rs 24.73 crore in allotment of one lakh sqmt plot at Nerul in Navi Mumbai to Dr D Y Patil Sports Academy.

according to the report of the Comptroller and Auditor General (CAG) tabled in the Legislative Assembly today.

The land cost as per reserve price was Rs 28.75 crore and the allotment was made at Rs 4.02 crore. The benefit of Rs 24.73 crore passed on to a private party was not justified, the report said.

Audit scrutiny revealed that CIDCO did not call applications from leading sports institutions through wide publicity. There was lack of transperancy in the allotment. The D Y Patil Sports Academy did not have affiliation with any recognised sports authority and hence lacked experience in the field of sports, it said.

The report also mentioned that CIDCO lost revenue of Rs 49.24 crore due to sale of plots below market rates, allotment of concessional rates to ineligible parties and short recovery of land premium.

UNI MR KD VD HT1918

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