In 2017, Mumbai de­vel­oper fights fire on 3 fronts

Lodha De­vel­op­ers saw 2 cases from flat buy­ers, another for stamp duty eva­sion

DNA (Daily News & Analysis) Mumbai Edition - - FRONT PAGE -

The same is ac­cepted,” the Ma­haRERA or­der reads.

Singh had ap­proached Ma­haRERA seek­ing in­ter­est and com­pen­sa­tion for un­due de­lay by the de­vel­oper for hand­ing over pos­ses­sion of a flat.

When asked about Singh’s com­plaint, a spokesper­son for Lodha De­vel­op­ers said, “Lodha handed over 7200 units to cus­tomers last year which is by far the high­est in the coun­try. Our fo­cus is on de­liv­er­ing high qual­ity res­i­dences and of­fices. In re­la­tion to the fact that a case was filed and then with­drawn and the per­son is choos­ing to go to another fo­rum, we have noth­ing to com­ment on the mat­ter. As and when the mat­ter is filed in the ap­pro­pri­ate fo­rum, we will re­spond on merit.”

But the big­gest blow was al­leged case of stamp duty eva­sion by the Lodha De­vel­op­ers in a land trans­ac­tion in Wadala where the Mumbai Col­lec­tor of Stamp Duty slapped a no­tice of Rs 470 crore seek­ing dues and penal­ties for al­leged stamp duty eva­sion. The land deal was worth Rs 5,700 crore.

The In­spec­tor Gen­eral of Regis­tra­tion (IGR) Ma­ha­rash­tra is ex­pected to pass an or­der soon the mat­ter. The mat­ter even went to the Bom­bay High Court, which asked the de­vel­oper to pay Rs 202 crore. A hear­ing re­gard­ing the same is in process with the IGR. IGR Anil Kawde said, “I am yet to pass an or­der in the mat­ter.” A spokesper­son for Lodha De­vel­op­ers claimed the en­tire amount of Rs 200 crore had al­ready been de­posited.

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.