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Gujarat Real Estate Updates

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  • Re : Gujarat Real Estate Updates

    Popular Builders: Rs 69L cash, jewellery worth Rs 82L found


    TNN | Oct 10, 2020, 04:01 IST



    Ahmedabad: A day after a major search operation by the income tax (I-T) department in Gujarat on city-based Popular Builders group, top department officials said that they found Rs 69 lakh in cash and ornaments worth Rs 82 lakh which were unaccounted for. The search was conducted at 27 premises across offices and residences of the persons associated with the building and real estate development group. The teams also found 18 bank lockers and digital data in form of mobile phones, pen drives and computers.

    ‘The group had around 96 companies at a few common addresses, which were being used for routing money and for land holding. Most of the companies are found to have no real business and very few returns of income have been filed. Many have not filed returns with ROC (Registrar of Companies),’ mentioned a release by Surabhi Ahluwalia, official spokesperson of Central Board of Direct Taxes (CBDT). ‘Some directors of these concerns, other than main family members, have accepted to be dummy directors with mere signing roles.’

    Officials said that they found innovative methods of tax evasion by increasing the cost of properties through intra-group transactions. ‘Substantial evidence of transactions outside the regular books of accounts, unaccounted cash expenses, and cash advances received and interest paid in cash have been found,’ the official release said.

    Cache of documents

    The officials had found a huge cache of documents from an apartment on Satellite Road on Thursday. The officials said that several of these documents are related to properties which are held in names of cooperative societies. Real owners of these properties will be tracked as the officials will also check applicability of the Prohibition of Benami Property Transactions Act, 1988. Registered and notarized sale-purchase agreements of agricultural lands with substantial cash component have also been found. At one of the premises, evidences pertaining to unaccounted property transactions up to Rs 150 crore have been found.















    https://timesofindia.indiatimes.com/...w/78581909.cms
    Last edited October 10 2020, 07:27 AM.
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    • Re : Gujarat Real Estate Updates

      Ahmedabad: Anand Vihar residents allege builder tried to redevelop flats without consent

      The residents in the complaint have named Sarika and Jignesh, employees of Shivalik Group and the group alleging they were helping GHB indirectly. The demolition was planned without their permission, the complaint states.
      AHMEDABAD: A Gujarat Housing Board (GHB) apartment opposite Keshavbaug is back in the news. Residents of Anand Vihar apartments have filed a non-cognisable complaint with Satellite police alleging a developer had tried to demolish their property for redevelopment purpose. They are also alleged GHB was helping the realty group to create pressure on the residents to vacate their houses.

      Anand Vihar apartment is a 132-unit low income group (LIG) scheme developed by GHB around 30 years ago.

      The scheme has 11 blocks and is spread over 5,100 sq yard, near the BRTS corridor.

      According to realty sources, the land price in the area is around Rs 2.25 lakh per sq yard, which means the land price itself is around 117 crore.

      Chairman of Anand Vihar apartment Vishnu Patel who lives in house number 3/25 said, "The earlier chairman of the society had forged our signatures to apply for redevelopment of the society. We had informed the GHB when they had given advertisement in the newspaper for the tendering. However, the board still went ahead and issued the tender which was won by Siddhi Developers that was allotted the redevelopment work."

      He added, "Since the process was unethical, we had challenged it in GHB and took the matter to court and is still sub judice. In that case how can anyone pressurise us to vacate our property or even try to demolish our property?

      Satish Rathod who lives with his sister in house number L5/56 said, "We have filed a complaint at Satellite police station as there was a verbal order by the police two days ago that the GHB and AMC will demolish the so-called 'illegal shops' in front of the houses."

      The Satellite police on Friday visited the society and had a discussion with the residents. Satellite PI J B Agrawat said, "We are looking into the matter and will call both parties to understand the issue." He confirmed that the GHB had asked for police protection for demolition of the illegal shops.

      What developers said

      The residents in the complaint have named Sarika and Jignesh, employees of Shivalik Group and the group alleging they were helping GHB indirectly. The demolition was planned without their permission, the complaint states.

      Regarding the allegation, Shivalik Group MD Chitrak Shah said, "We are not involved in the matter as the project has been awarded to Siddhi Developers. Our role will come when the GHB clears the land with the residents and hands it over to us. So these allegations are baseless."

      Dipak Patel of Siddhi Developers said, "I need to look into it as the matter is in court between GHB and the residents."

      He also added that they have a tie-up with the Shivalik Group for this project.














      https://realty.economictimes.indiatimes.com/news/residential/ahmedabad-anand-vihar-residents-allege-builder-tried-to-redevelop-flats-without-consent/78714554
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      • Re : Gujarat Real Estate Updates

        Ahmedabad: Popular Builders accused of forgery and land-grabbing

        In her FIR with Vastrapur police, Chanchal Brahmbhatt, resident of Samarpan Wing in Borivali (east), states that her father’s ancestral property was transferred to four members of her family including her two sisters and her mother in 1986.
        • TNN
        • October 19, 2020, 14:00 IST

        AHMEDABAD: A woman,82, from Borivali in Mumbai, filed a complaint of cheating and forgery on Saturday against Popular Builders’ promoter Raman Patel and his eight family members for allegedly capturing two land pieces measuring 4,452 square metres and 6,070 square metres in Thaltej by forging a power of attorney.

        Apart from Raman, his brother Dashrath Patel and wife Mayurika Patel have also been made accused in the case.

        In her FIR with Vastrapur police, Chanchal Brahmbhatt, resident of Samarpan Wing in Borivali (east), states that her father’s ancestral property was transferred to four members of her family including her two sisters and her mother in 1986.

        As Brhambhatt stayed in Mumbai and she had rarely come to enquire about her ancestral property in Thaltej area, which was agricultural land, Raman and other allegedly conspired and grabbed the property.

        She said that Raman had floated a cooperative group called Saraswati Smruti Kheti Sahkari Mandali which they got registered with district registrar using his links and later grabbed the agricultural land owned by Brahmbhatt in June 2016.

        Later, Raman floated Saranga Cooperative Housing Society Limited in Thaltej and the same land was transferred to that society. She alleged that Raman, who was never a farmer, first grabbed her agricultural land and then used it for construction by fraudulent practice.

        She said that she had come to know about the forgery two years ago and she had sent her sister to inquire about it and she came to know that Raman and his family members grabbed the land by criminal conspiracy. Brahmbhatt said that she had never given any power of attorney to anyone including Raman. She also stated that if Raman can grab the land of an elderly woman like her, he might have grabbed the lands of other helpless persons also.

        Vastrapur police registered a case of cheating and forgery along with other relevant charges under IPC against Raman and eight others and began an investigation.











        https://realty.economictimes.indiatimes.com/news/industry/ahmedabad-popular-builders-accused-of-forgery-and-land-grabbing/78742168

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        • Re : Gujarat Real Estate Updates

          Ahmedabad civic body's demolition drive continues

          Officials said as they went to the area, local residents who had carried out illegal construction come out and obstructed them and even manhandled them.
          • TNN
          • October 22, 2020, 12:00 IST

          AHMEDABAD: Officials of the Ahmedabad Municipal Corporation were embroiled in heated arguments with residents when they went to remove encroachments in Motera, where illegal construction had come up on an AMC reserved plot.

          Officials said as they went to the area, local residents who had carried out illegal construction come out and obstructed them and even manhandled them. Officials said the illegal construction was eventually demolished, and the plot was freed.

          AMC officials said in Shilaj, three constructions on about 807 square metres were demolished. These were permanent constructions. In West Zone, some 2,100 sq feet of construction on margin space was demolished.

          In Sabarmati ward, an illegal room at a primary school which was under construction was also demolished. In the East Zone, in Vastral ward, an illegal construction on the first floor in the Mahadevnagar area was demolished. This construction was on 3,200 square feet.

          In the Central Zone, in the Asarwa-Shahibaug area, encroachments on the 4km stretch near Ratnasagar Crossroads was removed and 968 sq feet of commercial sheds and 19 enroachments were removed.












          https://realty.economictimes.indiatimes.com/news/regulatory/ahmedabad-civic-bodys-demolition-drive-continues/78802081
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          • Re : Gujarat Real Estate Updates

            Co-working firm Incuspaze plans 0.5 million sq ft offices in Gujarat in 2021

            The co-working firm has forayed into the Gujarat market with its maiden office set up spread over 12,000 sq ft at Vijay Cross Road in Ahmedabad.
            Flexible office space provider Incuspaze is planning to set up five new offices spread over 0.5 million sq ft in Gujarat over the next one year.

            The co-working firm has forayed into the Gujarat market with its maiden office set up spread over 12,000 sq ft at Vijay Cross Road in Ahmedabad.

            The proposed new centers will come up in cities across Gujarat including Vadodara, Rajkot, and Surat.

            “In Gujarat, Ahmedabad is the first and our second office is coming up in Vadodara. We have partnered with the Alembic group and this new facility is due to be launched later this month and will have a capacity of 1,000 seats making us the largest managed office space provider in Gujarat,” said Mohit Srivastava, COO, Incuspaze.

            Currently, Incuspaze is present across 30 cities with over 58 offices across India. The company’s upcoming centers in Vadodara and Trivandrum will house more than 1,500 seats combined.

            “Surat and Rajkot are other cities which we are evaluating closely and are open to working with asset owners across these markets as we have plans to add 5 lakh sq ft of area In Gujarat by 2021,” Srivastava said.

            Post-Covid-19, large corporate organizations are reviewing their real estate strategies and reassessing portfolios with an objective to save on their overall expenses. Around 25% of co-working spaces in the top eight cities-- 6.4 million sq ft of the total 25.45 million sq ft--is operated by small players, with Bengaluru and the National Capital Region housing most of these companies.

            There are over 250 co-working firms in India and the segment is dominated by the top 10 players that hold a 75-80% market share in the top eight cities.













            https://realty.economictimes.indiati...-2021/79080868
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            • Re : Gujarat Real Estate Updates

              Ahmedabad: Popular Builders' owner, brother remanded till Nov 9 in land grab case

              Brahmbhatt alleged that Raman Patel floated a co-operative group called Saraswati Smruti Kheti Sahakari Mandali and grabbed the land in 2016. File photo AHMEDABAD: The Ahmedabad rural court on Friday sent Popular Builders' owner Raman Patel and his brother Dashrath Patel to police remand till November 9 in connection with a land grabbing case filed by an 82-year-old Mumbai-based woman.

              Chanchal Brahmbhatt, who lives in Borivali (East), owned two tracts of ancestral land measuring 4,452 sq m and 6,070 sq m in Thaltej.

              Brahmbhatt alleged that Raman Patel floated a co-operative group called Saraswati Smruti Kheti Sahakari Mandali and grabbed the land in 2016.

              Later, he floated Saranga Cooperative Housing Society Limited in Thaltej and transferred the agricultural land to the society.

              Brahmbhatt said she had not given any power of attorney to anyone and the land was grabbed using illegal means. Brahmbhatt named Raman and Dashrath Patel along with seven other people.

              The brothers were arrested by Vastrapur police and produced in Ahmedabad rural court on Friday. They sought a 10-day remand but were granted remand of the brothers till Monday.













              https://realty.economictimes.indiatimes.com/news/regulatory/ahmedabad-popular-builders-owner-brother-remanded-till-nov-9-in-land-grab-case/79094448
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              • Re : Gujarat Real Estate Updates

                Retired Gujarat HC judge is appointed as RERA appellate tribunal's chairman

                The government also appointed government officer Mehul Gandhi as the judicial officer in the RERA tribunal and Ajay Das Mehrotra as the technical/administrative member.
                • TNN
                • Updated: November 12, 2020, 12:18 IST

                GANDHINAGAR: The state government on Wednesday appointed a retired Gujarat high court judge, Justice R D Kothari, as the chairman of the Real Estate Regulatory Authority (RERA) appellate tribunal. Real estate developers were demanding the formation of the tribunal as several of their cases rejected by the RERA were pending undecided since its inception.

                The government also appointed government officer Mehul Gandhi as the judicial officer in the RERA tribunal and Ajay Das Mehrotra as the technical/administrative member. The chairman and the member will have fixed five-year terms.

                The RERA Act has the provision of an appellate tribunal. However, since the adoption of the RERA Act in Gujarat, the state government had not appointed anyone to head the tribunal. According to the government order, the tribunal will hear all grievances raised against the RERA.

                If developers are aggrieved by the orders of the RERA and the RERA tribunal, they can approach the high court.












                https://realty.economictimes.indiatimes.com/news/regulatory/retired-gujarat-hc-judge-is-appointed-as-rera-appellate-tribunals-chairman/79186304
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                • Re : Gujarat Real Estate Updates

                  Ahmedabad: Popular Builders' director held in another land grabbing case

                  Thaltej resident accuses Raman Patel, 13 of his family members of usurping ancestral land. Thakor, in his complaint, had alleged that an ancestral land in Thaltej had been transferred to his and his brother’s names in 1993 after the death of their father.
                  AHMEDABAD: The Sola-HC police on Wednesday arrested Popular Builders director Raman Patel on the basis of a complaint by 65-year-old Thaltej resident Babuji Thakor who has accused him and 13 of his family members, including wife Mayurika Patel and brother Dashrath Patel, of usurping his land.

                  Thakor, in his complaint, had alleged that an ancestral land in Thaltej had been transferred to his and his brother’s names in 1993 after the death of their father. When his brother died, they began the process of transferring his share to his two daughters. That was when Thakor got to know that the entire land had been transferred in the name of Patel brothers and their family members after allegedly forging the power of attorney.

                  Since Raman Patel was already in judicial custody in a case of criminal intimidation and domestic violence filed by his daughter-in-law, the Sola-HC cops had sought a transfer warrant. Their request was accepted and Patel was brought to Sola-HC police station from the Sabarmati jail. He will be arrested once he tests negative for COVID-19.

                  Raman Patel, his son Maunang, brother Dashrath and nephew Virendra had been kept in judicial custody in a case of domestic and criminal intimidation lodged by Maunang’s wife Fizu Patel. Raman Patel’s wife Mayurika and Fizu’s father Mukesh Patel were granted anticipatory bail in the case.

                  Earlier in November, Raman and Dashrath Patel had been arrested by Vastrapur police in two cases of fraud. In one case, Govind Barot, 70-year-old resident of Science City road, had accused the Patel brothers of usurping his office located on the eighth floor of New York Tower in Thaltej. In another case, a 82-year-old woman from Mumbai had accused the brothers and their family members of usurping her land in Thaltej area by forging the power of attorney.











                  Popular Builders director Raman Patel held in another land grabbing case, Real Estate News, ET RealEstate (indiatimes.com)


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