The state government has transferred over 100 acres of the land it took back from IMG Academies Bharata to Infosys for the software giant to build a 550 acre campus at Mamidipalli.
The sale of land for the Infosys campus was finalised over a year ago, and the software company was offered the land at Rs 12 an acre. However, on closer scrutiny, it was found that a little over 100 acres of the 550 acres of land offered to Infosys fell in the 400 acres of land the previous N Chandrababu Naidu government had pledged to IMG Bharata.
Top government sources confirmed to TOI that the land was transferred after the ordinance cancelling the IMG Bharata sports projects was issued on November 20, and before the AP High Court directed the state on November 29 not to transfer the land to any third party pending the disposal of the writ petition filed by IMG Academies Bharata against the ordinance.The sale of land for the Infosys campus was finalised over a year ago, and the software company was offered the land at Rs 12 an acre. However, on closer scrutiny, it was found that a little over 100 acres of the 550 acres of land offered to Infosys fell in the 400 acres of land the previous N Chandrababu Naidu government had pledged to IMG Bharata.
Government sources said Infosys was assured that there was a minor hitch in the transfer of land, and that the same would be sorted out soon. The ordinance cancelling IMG Academies Bharata's 450 acre land in Gachibowli and the 400 acres in Mamidipalli was then drafted and the same issued on November 20. Immediately afterwards, Infosys was given the 550 acres including over 100 acres taken from IMG Bharata.
As per the MoU that Infosys signed with the state, it will employ about 25,000 professionals once the fully residential campus comes up.
