Government to sell confiscated Immovable Enemy Properties

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The government has decided to sell the confiscated enemy properties that include land and buildings of the Enemy this financial year to generate revenues and will also get its share from the proceeds of the non-core asset sales of the CPSEs, asserted a top bureaucrat.

It generated Rs 1,800 crore from the sale of ‘Enemy Property’ last financial year and now they are looking at selling land and buildings of ‘such properties. We will look at those after clearing titleholders and custodian issues of such properties and the transactions with the Department of Investment and Public Asset Management (DIPAM) being provided with all relevant documents together with information on encumbrances or encroachments,” Atanu Chakraborty, Secretary, DIPAM asserted.

The government has set a target for the Financial year 2020 from earlier Rs 90,000 crore to Rs 1,05,000 crores. It is mobilizing all disinvestment proceeds to generate revenue.

On being questioned if DIPAM has set any target for the sell-off proceeds of confiscated Enemy Property, Chakraborty said: “We don’t intercede such targets. All these processes are very time consuming involving legal issues, contracts, agreements and titles all these have to be worked out. Even transactions small or a big one like Air India, the spadework is huge.”

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