Friday 27 July 2012

Opposition demands probe against Hiranandani Construction arm for duty evasion


The Maharashtra Government should conduct an inquiry against Roma Builders, a subsidiary of Hiranandani Group, for stamp duty evasion of about Rs 140 crore, said Mr Eknath Khadse, Leader of Opposition, in the Legislative Assembly on Friday. Mr Khadse said that Roma Builders has acquired over 3 lakh sq. m in Thane. 

The land value in 2008 was computed at Rs 271 crore but by 2010, when the land deal actually happened, it was reduced to Rs 178 crore. The State Government officials have undervalued it using loop holes in the ready reckoner rate, he said.

He pointed out that Hiranandani has been asked by the Supreme Court to provide tenements to 3,500 from the low-income group in Powai. Since Hiranandani complex in Powai has only six acres of open land, the land in Thane should be used for building the low-income tenements, Mr Khadse said.

“In a number of instances across the State, it has been found that there is a huge stamp duty evasion by private parties and the State Government officials are in cahoots with them,” he said. The State has old land and revenue records based on the outdated British system. This system has led to a number of litigations. Latest land records using advance satellite imaging technology is the need of the hour, he said.

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