Brahmakumari's maintenance and use agreement with NMMC

Maintenance and upkeep agreement signed by Brahmakumaris for 11 years with NMMC for Sankaracharya Garden in Sector 21,Nerul.
Similar agreements are signed for gardens all over Navi Mumbai by NMMC.

Rs 100 for 11 years

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Vasai Society office bearers jailed for refusing NOC to Muslim buyer

9 Managing committee members of the Happpy Jivan Housing Society in Sai Nagar, Vasai (W) got a rude shock when the Manickpur police (Vasai) arrested them for objecting to a flat sale to a member of the Muslim community.

The flat owner Mrs.Kantaben Patel (55 yrs) wanted to sell her first floor 2 bhk flat to a Muslim glass trader by the name of Vikaar Ahmed Khan for 48 lakhs.He had paid 1 lakh as token and then asked the society for an NOC to register the Sale agreement and for a bank loan.

The society members passed a resolution on the letterhead of the Society that the sale to a Muslim will \’spoil the atmosphere\’ of the society. They urged Patel to sell the flat to someone from the Hindu Community instead.

When all attempts by the owner to reason with the committee members failed, she approached the police and registered an FIR under section 295A (Deliberate and malicious acts intended to hurt the religious feelings of a person). The Police recorded the statements of the office bearers on Sunday. Immediately after that the Society members agreed to give the NOC without any preconditions to Khan. The members also agreed to give a written apology to Khan.

The 39 yr old building has 9 gujarati families in all and the Kantaben\’s immediate neighbours are all Gujarati vegetarians.There are also 2 families from the Muslim community staying in the society but they were unaware of the resolution passed by the office bearers in their absence.One Punjabi and One Maharashtrian family refused to sign the resolution.Owners of the 9 shops were also unaware of the resolution.

The Society comprises of 16 Flats and 9 shops.

This case should serve as a warning to Society office bearers who impose illegal conditions on flat owners on the basis of a persons religion or status.

Watch NDTV video report here

Long Term Capital Gains not re-invested are Taxable : High Court

The Mumbai High Court recently held that Long Term Capital Gains arising from House/Flat sale are taxable if the entire amount is not invested in another real estate purchase or deposited in the appropriate type of Bank Account (as designated by the Govt) during the financial year (1st April to 31st March) in which the gains were made.

As per Govt rules, Long term capital gains (when flat or property is sold after a minimum ownership period of 3 years) are tax exempt if they are re-invested in the purchase of another property within 2 years from the date of sale or in construction of a new house within 3 years from the date of sale of his property.

If the entire amount of LTCG is not invested in the purchase or construction of a new property, then the balance has to be deposited in a bank account as specified by the govt or in Bonds as specified by the govt.

High court

If the same is not deposited in the appropriate account, then the same shall be taxed as per the Income Tax bracket that the person falls under.

The High Court pronounced this order in the case of one Mr.Humayun Merchant who did not invest the complete gains from his property sale and was hence taxed on the balance un-invested amount.

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 Aggarwals (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)

Truth about 4 FSI in Gaothan Areas of Navi Mumbai

Recently, the Govt of Maharashtra gave a Green Signal to the proposal of 4 FSI in Gaothan Areas of Navi Mumbai. FSI is the amount of construction legally permitted on a plot of land. In Navi Mumbai, the current FSI is 1.5 (Max) for 99% of the areas. For the remaining 1% of tender plots, the FSI is just 1. So basically, if the Area of the plot is a 100 square meters, one is allowed to construct a building measuring 150 square meters of Built-Up area. This 150 square meters does not include areas like the lift, staircase, common passages, meter room, pump room, lift room etc.

FSI is very very important in determining the strain, load and quality of life in a given area. The more the FSI, the more the population living in a given area, the more the crowd, the more the traffic, the more the stress on civic services like drainage, parking etc.

But this FSI rule has been blatantly flouted in the Gaothan areas (areas in every node where the original inhabitants of Navi Mumbai illegally squatted on govt when their land was taken over by the Govt in 1970’s). Over a period of time, The villagers in connivance with local leaders and Municipal officials turned this Gaothan area into a hotbed of illegal construction by constructing full fledged housing complexes on the plots meant for their personal residence, throwing all rules into the dustbin and turning these areas into concrete jungles with nobody to answer to. Many a times these buildings collapsed and caused casualties too..but the problem persisted as nobody wanted to kill the golden goose which laid a lot of eggs for the local politicians and municipal officers along with the villagers who constructed buildings and sold flats at dirt cheap rates to gullible buyers.

A demolished illegal building

After many years of delay, the govt recently announced a scheme whereby all illegal constructions which have consumed upto 4 FSI would be ‘legalized’.
Most people think that this decision means that Gaothan areas will now become a builder’s paradise where huge buildings (high rises) will be constructed and flats sold to buyers. However this is far from the truth.

In reality this scheme will only …

• Legalize the constructions which came up before December 2012.
• It will not change the FSI rules applicable in Navi Mumbai Gaothan areas in any way .
• No highrises will be permitted in Gaothan Areas .
• Structures which have consumed more than 4 FSI will still face action.
• Any structures with more than the allowed FSI ( 1 or 1.5) that come up henceforth after 2012 will be demolished.
• The FSI rules already incorporated in the GDCR (General Development Control Regulations) of Navi Mumbai are still valid and have to be complied by all.

The next time someone tells you about the goldmine of 4 FSI in Gaothan areas, remember what you read here.