With the real estate boom in New Town, promoters have started eyeing the vast stretch in the fringe areas of New Town that have tremendous potential for development.
Huge tracts, adjacent to New Town and falling in the panchayat area, are being grabbed by unscrupulous promoters and sold off at exorbitant prices.
Officials of the Housing Infrastructure Development Corporation (Hidco), the implementing agency of New Town, conceded that promoters have grabbed many such plots and illegally sold those off for prices ranging from Rs 10-15 lakh per cottah.
"The land in this fringe area is mostly private land belonging to local farmers and other individuals. Taking the opportunity of lack of monitoring by any government agency, some promoters have already grabbed pieces of land and selling those at steep prices illegally," said an official.
