Published & Updated as on - 2010-02-17
All Is Not Well In Nagpur's Realty Market There
is a complex real estate fraud unfolding in Nagpur that threatens to hit at
least a million investors. Many unregistered firms have sold plots that don't
have legal sanction from any authority. Take the case of Mr Yeshwant Vishwanath
Mahurkar, a retired director of the Geological Survey of India. He purchased a
4,500 sq feet plot at Rs10 per sq feet from a residential society in Khapri in
1991, unaware of the fact that the area has been acquired for the multi-modal
international hub and airport at Nagpur, commonly known as the Mihan project.
Now, he does not know whether his land still belongs to him. "Forget open
plots, thousands of flat owners are being duped also," said social and
political worker, Mr Anil Wadpalliwar. However, on February 1, collector Mr
Praveen Darade issued notices to builders, a move that would affect nearly
15,000 flat owners in illegal apartments. Source: 9 Feb 2010 DNA
HC Issues Notice To DLF Group Companies The
Delhi High Court has issued notices to DLF and its two group companies - DLF
Home Developers Ltd and DLF Estate Developers Ltd - over a petition filed by
another company in the sector alleging that the companies did not deliver it
land in spite of taking money. Justice Ms Indermeet Kaur sought a response from
the companies and one Sudipti Estates over the alleged transaction. Source: 11
Feb 2010 The Financial Express
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