CIDCO scams list

A list of scams in CIDCO

Published Tagged
CIDCO Transfer Graphic

Some of the scams of CIDCO include:
(sourced from the internet

Allotment of land to housing societies at Kopar Khairne, Nerul and
Kharghar most of them fictitious societies floated by Builders.

Railway Station Complex Scam
The station complexes Built By CIDCO at Nerul , Vashi, CBD. The commercial areas was sold in the open market in 1996-1998 as Area =
Carpet area + ( 95-150 ) % loading at higher rates. In the year 2004
The same commercial premises were sold as Area = Carpet Area + 30%
Loading to friends / relatives and front men in the Mktg dept of CIDCO
at a discounted price .i e One Bldg , Two Adjacent Shops – Same Carpet
Area , But Area sold differs by 60 – 120 %. Simple case of Con /

Allotment of land under the 12.5% scheme to fictitious Companies not
entitled to the scheme.

Change of reservation of public and recreation plots for commercial use

Systematic Destruction Of mangroves and reclaiming land and blatant
violation of CRZ Rules.

Extra FSI to CIDCO directors Housing Society

Prathamesh society where the Directors of CIDCO and the PRO of CIDCO
was allotted prime property at throw Away prices .

Acquisition of land at nominal cost from Original Inhabitants without
proper compensation and siphoning the property to Builders at
exorbitant rates

The Housing Scams included

Millennium Tower Scandal

Akash Ganga Apartments Scandal.

Prathamesh society Scandal

Work Tenders of CIDCO are allotted to family members of CIDCO staff .

Land allotment at throw away prices to Unknown Press Establishments
and resale of the same in the Open market.

Land allotment to educational, medical, sports trusts belonging to
politicians at throw away prices which are used to run exorbitant
charging hospitals and educational institutions charging capitation fees.

Artificially increasing land prices by hoarding land thereby leading
to increase in property prices making housing unaffordable to middle
and lower classes.

A detailed enquiry by a parliamentary committee is needed to unearth
the various scams and frauds undertaken by CIDCO.

By Mayur

Mayur is a real estate professional based in Navi Mumbai for the past 20 years. His expertise in real estate includes every sphere of the real estate sector from legal to Building Construction to Vastu to home interiors. When it's not real estate, its either his fight against corruption or pulling focus (film making) with his NIKON D750 that keeps him busy. With over 9 million views of his pictures on Google Maps and over 1.3 crore views of his contributions, he has been designated as a Master Photographer by Google. He can be reached on 9987452642

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