17 May 2010

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Hiranandiani - Powai Area Development Scheme or Scam What Happened

Hiranandiani - Powai Area Development Scheme or Scam What Happened
Reality Views by sm –
Next year this scam will complete 25 years.

A division bench of the Bombay High Court is currently hearing a PIL filed by aggrieved citizens against the developer.

Hiranandani had entered into an agreement with the MMRDA and the state to develop the 230-acre land under the Urban Land Ceiling (Regulation) Act in 1986. The builder was required to build smaller, affordable flats for low- income groups.

Hiranandani was given the Powai land at 40 paisa per sq ft.
Just 40 Paisa, inquiry should be made into this first?
How can government sell the land so cheap, when land is given so cheap why MHADA was not given that land for development?
This is just one case; nearly every government land is sold like this. It’s given free of cost and money is given under table.
But who cares where everyone is for sale in India, Indian culture is great.

The developer built small flats, but amalgamated and sold them as luxury flats of
2,000 to 4,000 sq ft each.

Metropolitan Region Development Authority (MMRDA) permission was granted for only 40 to 80 sq m flats, the developer Hiranandiani built sprawling apartments of
200 to 400 sq m.

The penalty proposed on this has been at Rs 946 crore by the MMRDA

Developer Hranandani was not granted permission for building commercial
Complexes but developer did not care about this and he build the commercial complexes.
The commercial buildings include a hotel, a hospital and a shopping complex.

The authority has recommended a further penalty of Rs 597 crore on the developer for building commercial complexes

An inquiry revealed that instead of the specific 50%, just 15% of the built-up area was used for low-income housing.
The MMRDA also wants to levy a ‘penal premium’ of Rs 448 crore on the builder for using transfer of development rights (TDR).

The Mumbai Metropolitan Region Development Authority (MMRDA) has recommended to the state urban development department that developer Hiranandani Group be made to pay a penalty of Rs 2,000 crore.

Now what will happen in this case?
Do you think our law will punish the guilty and will recover the penalty and fines?

I don’t think Government will ever recover the dues.
The case will be kept pending for thousand of years and one day slowly we will get to know that the builder has paid fine of Rs.20 or 200 crore and the matter is closed by government forever.

Interesting fact who are the owners of these flats, who bought them from the builder?
Are they politicians or film stars?

It’s reported that Hiranandani group paid Rs. 3 crore as a fine in year 2008.

An attempt to calculate fine may be its wrong but we will get the idea.
This is just regarding excess area, not other violations.

Excess build up area per flat 300 sq ft
Total number of flats = 3000
Total excess built up area = 9 lakh sq ft
Market rate multiplied into the excess area = Total fine amount or profit of the builder
Suppose market rate is 20 k then it will become 1800 crore.

Who says in India we got same laws for the poor and rich.
Jai Ho Rich, Poor Ho Gutter Main

We hope this time the inquiry will be done properly and quickly
What is lawful and right will done by government of Maharashtra as fast as possible?

It seems no political party is interested to end this matter.

Justice Delayed Justice Denied.


kk,  May 26, 2010  

another corruption story