TN govt terminates lease agreement, to take over Madras Race Club
TN govt terminates lease agreement, to take over Madras Race Club
CHENNAI: With a staggering revised rent arrears of Rs 730.86 crore and beset with allegations of illegal construction, the historic Madras Race Club (MRC) at Guindy here, has been left stunned by the surprising and sudden move by the Revenue department to take possession of the sprawling property that saw many horse races.
Trainers and jockeys who were performing their morning track work were asked to move out on Monday and nearly 500 horses were locked inside the stables when the revenue authorities sealed the MRC announcing to take possession of the 160 acres of land.
The Tamil Nadu government, which revoked the 99-year lease agreement signed in 1945 with the Madras Race Club, a familiar landmark in Chennai, is set to take possession of the sprawling property by following due procedures.
