NIT (Nagpur Improvement Trust), in a meeting held on Tuesday, decided to terminate the land lease contract of Krazy Castle Aqua Park being run by Haldiram Foods. As the the decision, the land will be acquired by NIT on May 31 and will be handed over to Maha Metro on June 1.
The entire strectch of more than six acres of land of Krazy Castle will now be used by Maha Metro to build a metro station. Maha Metro had earlier requested only half of the land of the water park for the metro construction work. Haldiram foods, however, said that giving away half of the land will ruin the park’s charm. It had said that the entire land, which was leased to it by NIT upto 2022, should be taken up by Maha Metro and it should be compensated with Rs 162 crore for business loss of four years.
While, it’s still not clear how much compensation will be paid to Haldiram Foods, NIT chairman Ashwin Mudgal informed a daily that after NIT studies its contract with the food giant, the compensation amount will be decided by a three member committee led by Divisional Commissioner Anoop Kumar.