Business Standard

Rs 1.2-cr cloud on Rs 800-cr Mumbai plot stumbles realty major

Sanjay Jog  |  Mumbai 

Mumbai’s has received a major jolt following reports of a controversial deal involving a prime plot in the worth Rs 800 crore.

According to police, six months after a deal between real estate major and was finalised, a third party, BSN Developer, claimed the 30,000 sq mt plot off the in northeast Mumbai belonged to it and filed a complaint against with the Andheri police.

Soon after the matter came to light, also filed a police complaint against BSN Developers. Preliminary investigations revealed that BSN had paid Rs 1.2 crore stamp duty to get the land registered at the sub registrar’s office of the registration department allegedly by submitting fake papers.

Additional commissioner of police told Business Standard: “Prima facie it is a case of forgery. The investigating team is gathering further details and recording statements of the concerned parties.” declined to comment on the issue, while could not be traced.

“Investigations carried out so far has revealed that the architect’s certificate produced by is fake. The sale deed — submitted by the company claiming that the original owner of the land, A Thakur, had sold the land to them — has also turned out to be fake because Thakur died last August. The statements of tenants residing in slums on the land are also fake. The police will soon trace the whereabouts of BSN Developers and record its statement,” said an investigating officer.

Investigators said the land belonged to the Thakur family, which sold it to two years ago for over Rs 400 crore. Today, about 20 per cent of the plot has been occupied by slums.

Cases of cheating and dishonestly inducing delivery of property, forgery, using as genuine a forged document or electronic record and selling goods marked with a counterfeit property mark have been registered against BSN Developers.

A registration department official said had notarised the power of attorney and conveyance documents at Varanasi.

The investigating officer said the registration department, which carried out a probe into the transaction, has submitted a report with the police and an Andheri police team will soon leave for Varanasi. has also moved the court against BSN Developers.

In January, sold the property to which will develop seven lakh sq ft for a commercial complex. Commercial rates in this area are ranging between Rs 15,000 and Rs 20,000 per sq ft. Realty experts had termed the deal as one of the largest beyond Bandra.

RECOMMENDED FOR YOU

Rs 1.2-cr cloud on Rs 800-cr Mumbai plot stumbles realty major

Mumbai’s realty sector has received a major jolt following reports of a controversial deal involving a prime plot in the eastern suburb worth Rs 800 crore.

Mumbai’s has received a major jolt following reports of a controversial deal involving a prime plot in the worth Rs 800 crore.

According to police, six months after a deal between real estate major and was finalised, a third party, BSN Developer, claimed the 30,000 sq mt plot off the in northeast Mumbai belonged to it and filed a complaint against with the Andheri police.

Soon after the matter came to light, also filed a police complaint against BSN Developers. Preliminary investigations revealed that BSN had paid Rs 1.2 crore stamp duty to get the land registered at the sub registrar’s office of the registration department allegedly by submitting fake papers.

Additional commissioner of police told Business Standard: “Prima facie it is a case of forgery. The investigating team is gathering further details and recording statements of the concerned parties.” declined to comment on the issue, while could not be traced.

“Investigations carried out so far has revealed that the architect’s certificate produced by is fake. The sale deed — submitted by the company claiming that the original owner of the land, A Thakur, had sold the land to them — has also turned out to be fake because Thakur died last August. The statements of tenants residing in slums on the land are also fake. The police will soon trace the whereabouts of BSN Developers and record its statement,” said an investigating officer.

Investigators said the land belonged to the Thakur family, which sold it to two years ago for over Rs 400 crore. Today, about 20 per cent of the plot has been occupied by slums.

Cases of cheating and dishonestly inducing delivery of property, forgery, using as genuine a forged document or electronic record and selling goods marked with a counterfeit property mark have been registered against BSN Developers.

A registration department official said had notarised the power of attorney and conveyance documents at Varanasi.

The investigating officer said the registration department, which carried out a probe into the transaction, has submitted a report with the police and an Andheri police team will soon leave for Varanasi. has also moved the court against BSN Developers.

In January, sold the property to which will develop seven lakh sq ft for a commercial complex. Commercial rates in this area are ranging between Rs 15,000 and Rs 20,000 per sq ft. Realty experts had termed the deal as one of the largest beyond Bandra.

image
Business Standard
177 22

Rs 1.2-cr cloud on Rs 800-cr Mumbai plot stumbles realty major

Mumbai’s has received a major jolt following reports of a controversial deal involving a prime plot in the worth Rs 800 crore.

According to police, six months after a deal between real estate major and was finalised, a third party, BSN Developer, claimed the 30,000 sq mt plot off the in northeast Mumbai belonged to it and filed a complaint against with the Andheri police.

Soon after the matter came to light, also filed a police complaint against BSN Developers. Preliminary investigations revealed that BSN had paid Rs 1.2 crore stamp duty to get the land registered at the sub registrar’s office of the registration department allegedly by submitting fake papers.

Additional commissioner of police told Business Standard: “Prima facie it is a case of forgery. The investigating team is gathering further details and recording statements of the concerned parties.” declined to comment on the issue, while could not be traced.

“Investigations carried out so far has revealed that the architect’s certificate produced by is fake. The sale deed — submitted by the company claiming that the original owner of the land, A Thakur, had sold the land to them — has also turned out to be fake because Thakur died last August. The statements of tenants residing in slums on the land are also fake. The police will soon trace the whereabouts of BSN Developers and record its statement,” said an investigating officer.

Investigators said the land belonged to the Thakur family, which sold it to two years ago for over Rs 400 crore. Today, about 20 per cent of the plot has been occupied by slums.

Cases of cheating and dishonestly inducing delivery of property, forgery, using as genuine a forged document or electronic record and selling goods marked with a counterfeit property mark have been registered against BSN Developers.

A registration department official said had notarised the power of attorney and conveyance documents at Varanasi.

The investigating officer said the registration department, which carried out a probe into the transaction, has submitted a report with the police and an Andheri police team will soon leave for Varanasi. has also moved the court against BSN Developers.

In January, sold the property to which will develop seven lakh sq ft for a commercial complex. Commercial rates in this area are ranging between Rs 15,000 and Rs 20,000 per sq ft. Realty experts had termed the deal as one of the largest beyond Bandra.

image
Business Standard
177 22

Upgrade To Premium Services

Welcome User

Business Standard is happy to inform you of the launch of "Business Standard Premium Services"

As a premium subscriber you get an across device unfettered access to a range of services which include:

  • Access Exclusive content - articles, features & opinion pieces
  • Weekly Industry/Genre specific newsletters - Choose multiple industries/genres
  • Access to 17 plus years of content archives
  • Set Stock price alerts for your portfolio and watch list and get them delivered to your e-mail box
  • End of day news alerts on 5 companies (via email)
  • NEW: Get seamless access to WSJ.com at a great price. No additional sign-up required.
 

Premium Services

In Partnership with

 

Dear Guest,

 

Welcome to the premium services of Business Standard brought to you courtesy FIS.
Kindly visit the Manage my subscription page to discover the benefits of this programme.

Enjoy Reading!
Team Business Standard