
A major land investment by senior IAS and IPS officers has surfaced during the review of immovable property returns (IPR) filed in Madhya Pradesh.
IAS-IPS Officers Bought Land Near Proposed Bypass: A major land investment by senior bureaucrats has surfaced during the review of immovable property returns (IPR) filed by officers in Madhya Pradesh. Nearly 50 civil servants from different parts of the country bought agricultural land in Guradi Ghat, which is located in Bhopal’s Kolar area. The plots were purchased on the same day.
According to a report by Dainik Bhaskar, investors, including MP, Maharashtra, Telangana and Haryana cadres, along with officers posted in Delhi.
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Interestingly, the Rs 3,200 crore Western Bypass project was approved 16 months after the land deal. After 10 months, the land category was changed from agricultural to residential due to which the prices skyrocketed nearly 11 times.
So far, no housing society has registered for the project. According to rules, the land should first be transferred to a registered society or plots must be officially allotted before any residential development can begin.
2.023 Hectares Bought In One Day
Four years back, on April 2, 2022, about 2.023 hectares of land were bought via a single registry document and 50 people jointly purchased the plots. As per the registry, the transaction value of the plots was Rs 5.5 crore and the official value was Rs 7.78 crore.
Buyers Described The Purchase As An Investment
In the IPR document, the buyers of the land described their purchase as an investment made by ‘like-minded officers’. As per records, there were 41 actual buyers out of 50.
Bypass Approved After 16 Months
16 months after the purchase, the MP cabinet, on August 31, 2023, showed green flag to the western bypass project.
As per the current route plan, the bypass is located just 500 metres from the land.
Land Use Changed
The land was categorised as agricultural at the time of purchase. But after 10 months of bypass approval, in June 2024, it use was officially changed to residential.
In 2022, the five-acre plot was bought at Rs 82 per sq ft. After the diversion in June 2024, the rate rose to around ₹557 per sq ft, taking the estimated value of the land to about ₹12 crore.
In 2022, the five-acre plot, which was purchased at Rs 82 per sq ft, rose to around Rs 557 per sq ft. Following the diversion in June 2024, the value of ten plots rose to Rs 12
The current prices of land in the area are hovering between Rs 2500 to Rs 3,000 per sq ft. The total value of the land is nearly Rs 55 crore to 65 crore.
