Realtor accused of selling plots illegally, police asked to file FIR
The district administration has recommended registration of an FIR against a private realtor for allegedly selling plots around the Northern Peripheral Road in Gurgaon without taking a valid licence from the Haryana government’s Department of Town and Country Planning (DTCP). However, a spokesperson of the realtor, Earth Infrastructure Ltd, clarified that they had no information about any recommendation for an FIR and that they have the “requisite licences”. Police have been asked to investigate the allegation that the realtor sold “plots” or “flats” illegally and get finer details before a case is registered. The projects in question are Earthcopia I and II located in Sector 112 and 107 which, according to preliminary findings by the DTP (enforcement), have not obtained the necessary licences from the director general, DTCP, Haryana. The builder is promoting these projects through online advertisements, maintain the district officials. “We have received complaints via e-mails that the realtor has already begun bookings of plots or flats for their projects named Earthcopia I and Earthcopia II. However, there are no records of any licences or permissions issued in the name of Earth Infrastructure Ltd from our department. Most of these transactions have been carried out online and hence, we have informed the administration and asked them to examine the matter,” said DTP
(enforcement), Anil Dabas. According to Gurgaon deputy commissioner P C Meena, “Earth Infrastructure Ltd has contravened Section 7 (1) which is a cognizable offence as per provisions of Section 10 (1) of the Haryana Development and Regulations of Urban Areas Act, 1975 since it is mandatory that a realtor or developer obtain permission from the DTCP before starting the sale of plots.” However, when contacted, a spokesperson of Earth Infrastructure said, “We have licence number 35 of 2011 for Earthcopia and licence number 23 of 2012 for Earthcopia II issued in our names. Also, we have not sold plots under any project and are yet to launch Earthcopia II in market.” According to the latest data of the DTCP (available till December 2011), licence 35 of 2011 is issued in the name of Aurochem Buildprop Pvt Ltd for 11 acres of Sector 112 in city. Market watchers say that it is possible that a project is a part of a joint venture and there is nothing unusual in case the licence for a project is issued in the name of a joint venture partner. However, according to Dabas, “The licence may have been acquired by a different company. As per norms, only that company which has got the licences can advertize for its projects.”
Earth Infra Plans to Invest Rs 1,000 Cr in Three Projects by 2013
Earth Infrastructure declared that it will make an investment of Rs 1,000 crore by 2013 with the intention to set up three projects in the National Capital Region. The real estate firm has introduced two housing projects in Gurgaon, Haryana and Greater Noida, Uttar Pradesh which comprises around 900 apartments in addition to one office complex in Greater Noida. Earth Infrastructure Joint Managing Director Vikas Gupta stated, “This year, we are going to launch a number of projects. In the first phase, we are launching three projects in NCR. The total investment in these projects will be around Rs 1,000 crore by 2013.” The company said that the investment will be financed via internal accruals and advances from clients. Elaborating on the upcoming projects, Mr. Gupta stated, “We will develop a premium housing project, Earth Copia, at an investment of Rs 400 crore in Gurgaon. It will have about 500 flats with a starting price of Rs 70 lakh.” In Greater Noida, Earth Infrastructure will build 400 studio apartments with an investment of Rs 100 crore. As per reports, the company will
sell these studio apartments for approximately Rs 16 lakh each. “In the same complex in Greater Noida, we will also build an office complex, spread over 1.5 million sq ft. The cost of the development will be Rs 500 crore,” Mr. Gupta said. At present, the Delhi-based developer is carrying out different projects valued at Rs 3,000 crore. While speaking about its upcoming plans, Mr. Gupta stated that the company is eyeing to lift up funds via an IPO in 2014. Mr. Gupta also said that the company is eyeing to set up a financial firm within the next 12 months to provide home loans to its clients.
Directors at Earth Infrastructures Ltd.
Mr. Avdhesh Goel (FCA,
AICWA, ACS) (Director)
An exemplar of learning and awareness, Mr. Avdhesh Goel has the power to transform opportunities into success. He has worked tirelessly to put Earth Infrastructures Ltd. on the Map of Indian Realty Sector. His responsible outlook has helped him in shouldering many additional responsibilities in addition to his professional callings. He has brought radical changes in business strategies,
professionalized the entire group and has redefined the internal systems. Commandeering a powerful intuitive sense he has been instrumental in acquiring many properties in the sunrise areas of National Capital Region. He has also been involved in many core partnerships with prestigious and leading infrastructure companies. His joy lies entirely in the happiness of deeds well done and in the zest of creating new things and fresh goals. He is also a Certified Management professional from IIFT. His vision is to make Earth Infrastructures Ltd a global organization, whose very name spells trust and commitment.
Mr. Atul Gupta (Director)
Born with a strong charisma and hunger to excel, Mr. Atul Gupta is a symbol of performance, drive and affirmation. An expert in numerous management methods, he influences the internal and external dynamics of the organization, synergizing them with the success. Principled yet open to fresh thoughts and ideas, he has always used emerging practices and business models for rapid growth and sustainment of its own kind. Generous by heart, he is also the founder of Utkarsh, an NGO that works for the old aged and challenged.
Mr. Rajnish Mittal (Director)
Being an expert in Impression management he has done wonders to the company’s Public Image. He possesses a strong sixth sense, always offering the organization wise judgments. His alert and intelligent thinking patterns create a win-win situation for all. His pioneering strides towards relationship endeavours such as corporate assets and legitimizing long term competitive advantages has helped in getting the company maximal social recognition.
Mr. Vikas Gupta (Director)
With the reputation of a valuable and trustworthy marketing expert, Mr. Vikas Gupta has fulfilled all the expectations of the customers and has also managed to build a unique corporate identity on the other. An innovator and youth icon, he implements his vision with sheer perseverance and hard work. A well-established player in the realty industry, he is known for giving value for money to the customers. His zeal and enthusiasm has earned him the image of a youth icon and a team player. He has also made various outstanding contributions to many American and European counterparts. An entrepreneur and pioneer to the core he has created urbane and smooth choices for the customers, realty sector and institutional segment. After choosing the roads less traveled , he has reached the pinnacle of success by his hard work, vision and determined spirit. His approach has enormously added to the reputation capital of the company.
The Pledge
“We are a group of innovative people, who consider each of our projects as an opportunity to do something different & unique. Our buildings are a personification of our dynamic imagination and our vision is to create the finest elements of urban living & working with our wide-ranging experience in real estate business. Our ability is to meet the special requirements of the real estate market and clients demand from its strong foundations of professionalism. Every project which will bear the Earth signature will stand out from the rest, in terms of design aesthetics and global standards of construction.”