The Haryana State Industrial and Infrastructure Development Corporation (HSIIDC)
has recommended scrapping Sabeer Bhatia's Nano City project as it failed to
take-off.
A final decision on the project is likely to be taken in the next meeting of
Haryana Investment Promotion Board.
HSIIDC and Sabeer Bhatia had signed an MoU in 2006 to set up the Nano City,
under the PPP model, which was to be spread over 11,138 acre, covering 23
villages at Raipur Rani in Panchkula district. The project had entailed an
investment of Rs 1,850 crore. An area of 5,000 acre was to be developed in the
first phase and remaining in the second phase.
However, the project could not take off as its promoters could not buy land
from farmers at Raipur Rani in Panchkula, primarily because of high land prices.
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