Thirteen Booked for Alleged Rs 200 Crore Redevelopment Scam

Thirteen individuals have been charged in connection with a redevelopment scam involving MHADA land. The suspects allegedly secured a Rs 200 crore loan through a fake mortgage deed to redevelop 18 buildings. Investigations reveal the consent of residents and MHADA was not obtained, and the loan wasn't used as intended.

Thirteen individuals have been charged for their alleged involvement in financial irregularities related to the redevelopment of buildings on Maharashtra Housing and Area Development Authority (MHADA) land. Authorities in Thane estimate the misappropriated amount to be over Rs 200 crore.

According to the First Information Report (FIR) by Chitalsar police, a firm was contracted to redevelop 18 buildings on land leased to the societies by MHADA. The company purportedly used a counterfeit mortgage deed to secure a Rs 200 crore loan from another firm. This loan was neither utilized for the redevelopment nor executed with the necessary approvals.

Moreover, the No Objection Certificate (NOC) for this mortgage was allegedly issued by the chairperson of one housing society without obtaining consent from residents or MHADA. Investigations are ongoing to uncover the full scope of the fraud, and no arrests have been made so far.

(With inputs from agencies.)