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| Thanks to official apathy prime property sold to peanuts in heart of summer capital | | Nazool land claimed to be purchased by a business group | | Jehangir Rashid
SRINAGAR, Dec 18: A prime property located in the heart of summer capital of the state is all set to go in hands of a business house who trace their success due to the inflow of hawala funds from across the border during the period of militancy after 1989.
Fairdeal Shopping Complex located on the Residency Road is all set to land in the lap of quartet of Khan Brothers as they claim to have paid Rs. 87 lakhs for the property despite the fact that the same would fetch crores of rupees. The Khan Brothers have threatened to take punitive action against the shopkeepers who are running their business in the shopping complex if they fail to vacate.
Sources told Early Times that the shopping complex located over more than eight kanals of land provides employment to scores and once it is taken over by Khan Brothers it would lead to unemployment. They dispute the claims of Khan Brothers that they have purchased the property saying that the land on which Fairdeal Shopping complex belongs to Nazool which can't be sold.
"Government property more so the state land has always been usurped by anti-social elements and same holds true with the Fairdeal Shopping Complex. The Khan Brothers claims that they have paid Rs. 87 lakhs for the property which would easily fetch more than Rs 10 crores in the market. There is something fishy about this deal and this need to be probed," said sources.
Sources said that the shopkeepers of the Fairdeal Shopping Complex had entered into a deal with Bakshi Bashir Ahmad who had got the lease rights for the property. They said the lease expired some years back adding that the quartet of Khan Brothers claimed to have purchased property despite it being government property.
"The period of militancy came as a boon for Khan Brothers consisting of Farooq Khan, Mushtaq Khan, Imtiyaz Khan and Reyaz Khan. The quartet has received money from different channels. They are nowadays considered to be one of the influential business families of Kashmir more so in the summer capital," said sources.
Sources said that Khan Brothers had their eyes focused on the prime property of Fairdeal Shopping Complex for some time and for some time now they are claiming to be owners of the property. The shopkeepers of Fairdeal Shopping Complex have also raised their objection and carried out protests against the proposed move over the past few weeks.
It would be in place to mention here that major chunk of the property located in the important areas of Srinagar city belongs to the state government with the same being leased out to different people in lieu of 'peanuts'. Over the years these people have been paying negligible amount as rent towards the government and enjoying the rights of prime property. This has led to loss to the state exchequer in the past with the practice being carried out at present. |
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