Category: Frauds and Scams in Real Estate

News about Frauds and Scams in the Real Estate sector

Pujit Aggarwal of Orbit Corporation arrested for fraud

Mayur
Mayur
Legal Head at Sky Properties
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 Vastu to home interiors. When it's not real estate, its his DSLR and film making that keeps him busy. With over 9 million views on Google Maps, he has been designated as a Master Photographer by Google. He can be reached on 9987452642
Mayur
Latest posts by Mayur (see all)

Realty firm Orbit’s MD, Pujit Aggarwal was arrested on Monday, 12th September, for a fraud and cheating case registered by a firm called Capri Global Capital. The firm, Capri Global Capital had booked 3 flats in Orbit’s Saki Naka project called Orbit Residency Park. The said project was mortgaged with Life Insurance Corporation in 2008 itself.According to the law, Pujit Aggarwal was supposed to put 2.5 crores paid by Capri Global Capital in an escrow account, but had used it himself instead.Meena’s husband (now deceased) Rajendra Jain had a room in Ramesh Bhavan, Irani chawl at Nana Chowk when Pujit approached the landlord Pradeep Goragandhi with a redevelopment proposal. Under the proposal, Rajendra Jain was supposed to get a flat in the Orbit heights project measuring 675 sqft carpet area in return for his acceptance of Pujit’s proposal. They entered into an agreement in 2004 and paid stamp duty and registration for it.But by 2010,Pujit told Meena Jain that the flat could not be allotted to her due to some problems and promised to allot another one instead. Meena Jain says that she was never given a copy of the registered agreement till date.Later she discovered that the said flat had…

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Builder fined for delaying flat posession

Mayur
Mayur
Legal Head at Sky Properties
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 Vastu to home interiors. When it's not real estate, its his DSLR and film making that keeps him busy. With over 9 million views on Google Maps, he has been designated as a Master Photographer by Google. He can be reached on 9987452642
Mayur
Latest posts by Mayur (see all)

The Maharashtra State Consumer Disputes Redressal Commission (Consumer Court) has asked M/S Vaidehi Akash Housing Pvt limited,to pay the expenses of stamp-duty,registration and conveyance for a 1000 sq ft flat located on Veera Desai Road(Andheri West).The builder had not handed over the flat to the buyer even seven years after making the full payment of 22 lakhs.The commission also told the builder to handover the flat within 45 days or else he will have to pay another 5 lakhs as interest. The builder had issued an allotment letter dated March 22,2005  but did not execute the sale agreement for the 22 lakhs paid to him.Despite repeated summons,the company and its directors failed to appear before it.The commission then passed an exparte order against them. Most people are unaware that they can pursue the builder for any problems in the consumer court and that the law is almost always on their side.Problems such as delayed conveyance,delayed society formation etc etc can be pursued in the Consumer Court and does not  require a lawyer.Just a plain paper submission is ok.

Municipal officers to face jail for illegal constructions

Mayur
Mayur
Legal Head at Sky Properties
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 Vastu to home interiors. When it's not real estate, its his DSLR and film making that keeps him busy. With over 9 million views on Google Maps, he has been designated as a Master Photographer by Google. He can be reached on 9987452642
Mayur
Latest posts by Mayur (see all)

In a landmark move, the President of India has given her approval to the amendment in the Maharashtra municipal councils, Municipal corporations and MRTP act 2010,whereby the municipal officers who allow illegal constructions to stand despite complaints now face jail for a month or a fine of Rs.25,000.Mr.Bhaskar Jadhav (Minister of Urban Development) informed the legislative assembly recently.The modification of the above acts, allows appointment of an officer to the said municipal corporations, councils, panchayats and industrial townships (MIDC),who will ensure demolition of illegal structures. If the officer doesn’t perform his duties to demolish illegal constructions, he will be either imprisoned for a month or fined Rs.25000.To ensure that the officer does his duty unhindered, the govt has already sanctioned the deputation of a DCP or ACP to the municipal corporation, council, panchayat etc.State law amendments are sent to the Centre for approval if the matter they deal with is on the concurrent list. Since the modification deals with imprisonment, it was sent to the President for approval.But before you start celebrating, the devil lies in the details, namely, the Rules for such a prosecution, which are yet to be framed. The Minister of Urban Development says that the framing…

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