3 nabbed for cheating under garb of land pooling policy
The Economic Offences Wing (EOW) of Delhi Police arrested three persons in a cheating case under the garb of the land pooling policy of the DDA, said O.P. Mishra, Joint Commissioner of Police (EOW).
Mishra said "The EOW has arrested three office bearers of Revanta Multi State CGHS Ltd Satender Maan (Ex-President), Pradeep Shehrawat (Ex Treasurer and present President) and Subhash Chand (present Secretary) in connection with the Smart Residency project for duping the investors in the name of Land Pooling Policy of DDA in L Zone, Dwarka, Delhi on Thursday."
The Delhi Development Authority (DDA) envisaged a land pooling policy to ensure availability of sufficient houses under planned development. But various builders and promoters grabbed it as an opportunity to exploit the situation by painting a rosy picture for the home buyers and raised a huge amount of money from them through advance bookings, he said.
As per the DDA's reply to the Delhi Police, it has not issued any license or approval to Revanta Multi state CGHS Ltd. The reply said no one is authorised to advertise, market, book, sell and invite persons to purchase any plot or flat in any project under the land pooling area without any prior registration of the project under RERA.
The investigation of the case revealed that there were 3,997 members in the society and 1,461 members in the Smart Residency project. The investors made a total payment of Rs 400 crore (approx.) to the society out of which Rs 115 crore was spent on facilitating the brokers.
Most of the land was purchased at high rates - from Rs 8 crore to Rs 10 crore per acre against the circle rate of Rs 53 lacs per acre, the officer said.
Sixteen more criminal cases are registered against various builders and societies with regard to cheating home buyers in the name of the land pooling policy.