Thiruvananthapuram, Nov 16 (IANS) Exactly three years after laying the foundation stone of the proposed Rs.1,500 crore Smart City Kochi IT project, Chief Minister V.S. Achuthanandan Tuesday said the project builders are delaying it due to financial problems.
Addressing reporters after the weekly cabinet meeting here, he said Smart City Dubai is putting up conditions that were not signed in the agreement.
‘After the foundation stone, they have not been able to put another stone above that. May be they are short of funds and hence they want us to give them land in the project which they can sell off and then begin construction. That is in no way possible and we won’t allow that,’ Achuthanandan said.
The Kerala government has been adamant that under no circumstances can the freehold property which Smart City Dubai will be getting for the project be sold.
Smart City Dubai is sticking to the agreement where it has been mentioned they would get 12 percent freehold rights.