CIDCO’s amnesty scheme for POA owners of its flats

CIDCO constructed Building constructed with 1 FSI in Navi Mumbai

CIDCO has sold flats based on a strict condition that before selling the CIDCO flats, owners will have to take permission from CIDCO and they will have to share 50% of the profit (difference between their selling price and the price at which they purchased from CIDCO) from sale with CIDCO. This gave rise to various tactics to evade these additional charges.

For example, a flat in E type apartments (3 bhk @ 1000 sq ft carpet area) which was purchased at Rs 30,000 in 1973 started fetching a price of Rs 3,00,000 in 1980,which meant that 1.5 lakhs would have to be paid to CIDCO as profit share in case the flat owner wanted to sell the flat.

Most people started selling their flat on POA (Power of Attorney), thereby depriving CIDCO and the State of massive funds.
This POA later gave rise to various other issues, due to which owners couldn’t sell their flats, couldn’t become society members, couldn’t obtain loans etc.

The Scheme

In 2011, the Govt announced an amnesty scheme wherein the defaulters could pay the set fees and penalty as a one time charge to regularize their flats in these buildings…however this was applicable only to flats purchased before June 2009 and the whereabouts of the seller (original owner) was not known (traceable).

Current Status (Legal Issues)

The scheme has currently been suspended as it involves legal issues which need to be sorted out at the Level of the Law governing all sales and purchases of flats. Giving Amnesty for all such purchases will give rise to further complications in the future. Power of attorney is only valid till the lifetime of the person who is giving it. There is no guarantee that the person who gave the Power of attorney is still alive. In that case, the transaction will become completely illegal as the Power of Attorney is invalid anyways after a person dies.
Current laws make it compulsory for the Power of Attorney regarding Flat or property purchase to be registered.
The registrar can ask for people who are parties to the old Power to Attorney to come and register the agreement but the law says that the executed (signed) agreement has to be registered within 4 months of the signature.
Also the CIDCO sale agreement specifies clearly that only direct blood relatives of the buyer can be appointed as Power of Attorney Holders.

That presents a whole new problem. The present law will have to be amended before this scheme can be implemented. But this is highly unlikely as it will give rise to unimaginable consequences legally.

Political schemes to fool people before elections

Most people are unaware that the country is governed with laws.
Laws are passed in Assembly for matters which come under state list in the constitution.
The law comes into force when it is approved by both houses and is signed by the governor and published in the Gazette.
It is for this reason that another name for politicians is LAWMAKERS. But most fool people by promising to do \’Seva\’ of people. What exactly this SEVA is … is not defined or mentioned anywhere in the constitution.
Politicians in connivance with chor bureaucrats are expert at concocting such nonsense and illegal schemes and getting it published in the papers to fool people.
They know that people wont know the truth anyways.
Fool them and take votes. To hell with what happens later.

This is the fate of the country. Where the current lot would not know abc of the law and give votes based on \’promises\’ and lies. They don\’t even know that the only job and legal duty of the politician is to make laws in the assembly and parliament. After the law is made, they can\’t even change a full stop or comma in the law.

Charges for our Services

CIDCO Transfer only	15,000
Mortgage NOC only	15,000
CIDCO Transfer + Mortgage NOC	20,000
Only Drafting/Documentation	5,000
Drafting and Registration of Sale Agreement/Sale Deed	10,000
Brokerage (Purchase/Sale transaction)	2%
Brokerage (Rentals)	1 month rent/year
Consultation over Phone/Whatsapp/Zoom/Google Meet	4,000/30 mins
Property Tax Name Transfer	10,000
Water Bill Name Transfer	10,000

Pujit Aggarwal of Orbit Corporation arrested for fraud

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 already been sold to one Dilip Sanghvi who showed them an agreement registered in 2012 for the said flat.Meena jain says that Pujit Aggarwal has cheated her of 3 crores minimum.

Besides these cases, another group of people who had booked apartments in Orbit Residency Park have submitted an application to the Sakinaka police seeking legal action against Orbit, while two independent parties have also filed applications with the Economic Offences Wing of the Mumbai Police.

The Azad Maidan police registered a case against the Aggarwal's (Pujit Aggarwal and Ravikiran Aggarwal) for cheating. Subsequently as investigations proceeded, Sections 406, 120(B) of the IPC and sections 3, 4 and 5 of the MOFA (Maharashtra Ownership Act)