CAG raps Housing Board for 'rampant' discrepancies
Besides, Rs 8.52 crore was paid as compensation without any assurance that they were made to rightful owners
Dec 18, 2014
Source : Business Standard


Belagavi: The Comptroller and Auditor General has rapped the for “rampant” in selection of locations for housing projects not driven by demand and payment of Rs 8.52 crore as compensation without any assurance that they were made to rightful owners during February to July 2013.

“The Special Land Acquisition Officer (SLAO) failed to obtain all documents necessary for processing claims before payment of compensation. Hence Rs 8.52 crore was paid as compensation without availability of necessary documents and therefore audit could not derive assurance that payments were made to rightful owners,” said the report, covering the period of 2008-2013. The report tabled in the Legislative Council brought out discrepancies in execution and costing of housing projects.

KHB adopted manual excavation instead of mechanical means for about 0.93 million cubic metres of earth in 18 out of 32 works, incurring an avoidable of Rs 9.16 crore. It also said that the board used water-bound macadam as base course for majority of roads in 19 works, instead of wet mixed macadam, resulting in extra expenditure of Rs 5.26 crore.

Moreover, the report said fixation of allotment rate before actual completion of the project resulted in a loss of Rs 146.26 crore in three projects. The District Purchase Committee (DPC) was bound to adhere to the guidelines issued by the government in November 2001.

However, contrary to guidelines, rates fixed for compensation in six-checked cases were found fixed without transparency and proper justification, the report said. Pointing out discrepancies in the allotments, CAG said the board made allotments on request and at rates lower than that fixed in its resolutions.

Latest Realty News

Sand prices hit builders hard
Dec 18, 2014
Andhra Pradesh: Construction activity has been suffering a setback in Ongole and other parts of Prakasam district owing to ‘hefty hike’ in the price of sand which is already short in supply
Encroachment dept turns heat on illegal buildings across city
Dec 18, 2014
NASHIK: The civic encroachment department has shifted its focus from evicting hawkers to demolition of illegal structures in the city
CM to interact with CREDAI members on ready reckoner rates in Nashik next week
Dec 18, 2014
NASHIK: Chief minister Devendra Fadanvis will interact with office-bearers of the Confederation of Real Estate Developers' Association of India (CREDAI) Nashik, over Ready Reckoner (RR) rate issue in the city next week
Global investors buy $2 billion office space in 2014
Dec 18, 2014
BENGALURU: Foreign investors have bought tenanted office space worth over $2 billion in India
Indian Medical Association ties up with Antriksh; doctors to get flat at 25% discount
Dec 18, 2014
NEW DELHI: Indian Medical Association (IMA) has entered into an agreement with realty firm Antriksh group for providing 275 flats to its doctor members on Noida Expressway
AP to permit land pooling to developer entities
Dec 18, 2014
Hyderabad: The Andhra Pradesh Capital Region Development Authority (AP CRDA) Bill-2014 seeks to introduce a licensing system for developers
Developers, buyers back in luxury homes mart
Dec 18, 2014
Mumbai: Interest in luxury residential projects is back both from developers and buyers on improved sentiment and economic conditions
Real estate exhibition to showcase 500 projects
Dec 18, 2014
NASHIK: The real estate expo - Shelter 2014 - organized by the Confederation of Real Estate Developers Association of India (CREDAI) Nashik from Thursday, will showcase around 500 residential projects
Cabinet defers approval to real estate bill
Dec 18, 2014
NEW DELHI: Union Cabinet deferred the Real Estate (Regulation & Development) Bill
Cheap housing only at Naina: Builders
Dec 17, 2014
NAVI MUMBAI: The city builders, who have put up stalls at Credai-BANM's 15th property exhibition, say that they are expecting a turnover of approximately Rs 2,500 crore

Latest Realty News Of State

Realty Talk's