Rs.1000 Crore Worth Land Recovered in Whitfield , Bengaluru by Govt of Karnataka from Prestige Group

Bengaluru : On instructions of Govt of Karnataka , The Revenue Department & a Team led by Deputy Commissioner (Bengaluru Urban) recovered the land from the leading Real Estate Developer Prestige Group who had purchased the Land from a city based start up company who wanted to setup a Ice Cream Unit of Joy Icecream  by getting it allocated for the purpose from the Development Board in Pattandur Agrahara in Whitfield but he deviated from the plan and sold the land to the Real estate builder Prestige Group Constructions in Whitefield who constructed an apartment & Villas , Govt of Karnataka has not yet decided on the demolition of the construction & may decide on it shorty considering the Buyers in this apartment & villa’s which is built on Rs.1,000/- crore worth land measuring 3.28 Acres      
“Continuing the anti-encroachment drive, officials of the district administration on Monday recovered 3.28 acres of government land in Whitefield, which had been encroached by a leading real estate company Prestige Constructions to build apartments and villas.
The recovered land is worth about Rs. 1,000 crore, Bangalore East division tahsildar Harish Nayak said.”
According to him, Apartments & Villas were being constructed against an Ice Cream Unit (Joy Ice Cream)which had been alocated in the Year 2005 to a Bengaluru Based Start Up Company.
Few latest update : The base for the multi-crore Prestige White Meadows residential project, in Whitefield area. The recovered land is said to be worth Rs 1,000 crore and land was alloted joy icecream ltd by KIADB and inturn Joy Icream sold it to Prestige Constructions

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