Nano City project called off

The much-ambitious project of the state government Nano City has been called off. With the main investor Sabeer Bhatia failing to show any interest, the Haryana State Industrial and Infrastructural Corporation (HSIIDC) is now mulling new avenues.

The HSIIDC never heard from Bhatia again after communicating a deal with him in June. There are rumours that the corporation is looking for fresh investors for industrial development ranging from IT to pharmaceuticals.

A senior official said, "Sabeer Bhatia's attitude towards it clearly indicates that he is not interested, so we have decided to explore other avenues." The corporation was hopeful that the 'warning' of a final deadline would evoke some action.

Apart from denting the government of its economic development and placing the township on the map of IT hubs, the project has also dashed the hopes of farmers along with the property dealers who were anticipating selling the land at skyrocketing prices. "The land would have easily been sold to generate money. The current price of land varies between Rs 25 lakh to Rs 40 lakh per acre. We had even had queries from farmers who were keen to sell of some area," said Pardeep Sharma, a local property dealer.

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