Govt attaches chit fund cos land
While 8.07 acre of AT Group, about 4.1 acre belonging to Golden Land
Sep 21, 2014
Source : The Times of India
Artha Tatwa


BERHAMPUR: The state government took possession of over 12 acre in Ganjam district belonging to two chit fund companies, Artha Tatwa (AT) and Golden Land Private Limited, on Friday.

While 8.07 acre of AT Group at Sindurapali under Chhatrapur tehsil was attached, around 4.1 acre belonging to Golden Land at Gadagadapalli (2.2 acre) and Govindapur (1.901 acre) in the same tehsil was also acquired by the local tehsildar.

"We have attached and taken into possession of lands of these chit fund groups on the direction of additional district magistrate, Cuttack," said tehsildar (Chhatrapur) S K Sahu. He had directed the tehsildar to take possession of over 46 acre belonging to AT Group (41.407 acre), Golden Land (4.101 acre) and Safex India (2.673 acre) located at different places in the tehsil. "The process has already started and more acquisition is likely next week," he said.

The tehsildar has issued the notice to villagers and concerned panchayats advising them not to buy or sell land as the government is going to take possession of these. The land is in Sindurapalli (10.945 acre) and Laxmipur (22.392 acre) of AT Group and Kanabana (2.101 acre) of Safex.

Chamakhandi police are guarding the land. "We have installed red flags on the acquired land to identify the land. We have also advised people not to buy or acquire it by any mean," said IIC of Chamakhandi Ashok Kumar Parida. Police would keep an eye on the land, he said.

Latest Realty News

Parsvnath sells 140 acres of land to Supertech for Rs 665 crore
Sep 21, 2014
Realty firm Parsvnath Developers has sold 140 acre land at Sohna, Gurgaon, to Supertech Ltd for Rs 665 crore as part of plans to divest non-core assets to cut debt and complete ongoing projects
Developer may oppose rehabilitation of slum-dwellers on Mumbai airport land
Sep 21, 2014
The on-site rehabilitation of slum-dwellers on airport land is likely to face opposition from developer HDIL
DDA hikes FAR for plots over 750 sq m
Sep 20, 2014
The Delhi Development Authority (DDA) is planning to go to court to allow for an increase in dwelling units in plots of 750 sq m and above
Government relaxes patta norms for flat sale
Sep 20, 2014
Ending the six-month deadlock over transaction of flats, the state government on Friday relaxed registration norms for apartments during purchase. From now on, record of rights (ROR), called patta in local parlance, would not be a prerequisite
Odisha land scam, 7 held
Sep 20, 2014
The Economics Offence Wing (EWO) of the state crime branch arrested seven persons, including four government officials, in the multi-crore land scam in Ghangapatna on the city outskirts
Govt to revise real estate Bill: Naidu
Sep 20, 2014
Housing and Urban Development Minister Venkaiah Naidu said the revised Real Estate (Regulation and Development) Bill, due soon, was not aimed at over-regulation of the sector
Taxation, regulatory issues may trip REITs success: KPMG-IVCA
Sep 20, 2014
Real Estate Investment Trusts (REITs) could be a game changer for the realty sector, but lack of clarity on taxation and regulatory aspects might act as roadblocks for attracting foreign investments in the commercial space
Indians among top property buyers in Dubai
Sep 20, 2014
Indians constitute a dominating group while buying real estate in Dubai, having invested nearly AED 10.5 billion during the first half of this year
Housing prices drop as investors prefer equity over realty
Sep 20, 2014
The rapid rise in the stock market since the new government was formed has taken the sheen off real estate, where investments have not only dropped but investors are trying to monetise their existing assets, creating a scare of price correction
MCG chief in panel to approve building plans
Sep 19, 2014
Building plans for plots will now be sanctioned by a new committee formed by the Urban Local Bodies department. The committee includes the chief town planner, senior town planner and MCG chief engineer among others

Latest Realty News Of State

Realty Talk's