Multi crore land scam investigation hits road block as main accused flies out of country
Though the full magnitude of the scandal has yet to unfold, informed sources put the Official land price involved the scam at more than Rs 600 crores
Dec 01, 2014
Source : The Times of India


GAYA: Ongoing investigation in the multi crore land scandal in which members of the disadvantaged sections (read Mahadalits) were allegedly duped and subsequently deprived of prime land allotted to them by the government. for their livelihood.

Though the full magnitude of the scandal has yet to unfold, informed sources put the Official land price involved the scam at more than Rs 600 crores. Sources also do not rule out the use of black money, FERA violations and money laundering as K Navani, the main accused of the case is a Karachi (Pakistan) born Thai national.

Navani was present in Bodh Gaya when the case was instituted about six weeks back, the alleged scamster managed to escape out of the country, leaving the investigators high and dry. Though Navani's involvement is believed to be only in one part of the mega scam, his sudden disappearance has given the much needed alibi to other influential scamsters to buy time and prepare the salvage strategy.

Navani, as per the FIR lodged in the Bodh Gaya police station, tricked innocent Mahadalits into selling the ceiling land allotted by the government at through away prices. The land was non saleable in the first place as the allotment letter clearly mentioned the condition that the beneficiaries were being given the land only for livelihood and they did not have the power to sell or lease out the land.

In case of violation of the allotment condition the government has the power to take back the land. In the early eighties, the government distributed bout 175 acres of the ceiling land earlier surrendered by the Bodh Gaya Mahanth. In the years to come property prices in the Mahabodhi shrine vicinity registered astronomical hike. Almost all the land is located near the main shrine, the seat of Buddha's enlightenment. Though the official price of the land, as per, registration Deptt records was about Rs four crore per acre, the market price is said to be about four times more than the official price. If the market price of the land were to be taken into account, it is estimated to be on the higher side of Rs 2000 crores.

Earlier, during his presence in Bodh Gaya at the time of the institution of the case, the police did not arrest Navani, as, according to police officials, certain procedure was to be followed in respect of the arrest of foreign nationals and now that Nawani has flown out, the police feel outwitted.

Asked about, the progress of investigation, case IO and Bodh Gaya SHO, Naresh Kumar said that the disappearance of the main accused K Navani has adversely affected the pace of the investigation. Saryu Rai, a key suspect of the case too is absconding, said the Investigating Officer.

Latest Realty News

Will make land records in Capital city foolproof: Minister Pullarao
Dec 01, 2014
GUNTUR: Agriculture minister Prattipati Pullarao has said that land records updation and correction in the villages identified for capital city will be completed within 10 days
Veggies only: A harsh reality of the realty world
Dec 01, 2014
Bengaluru: Vegetarians as a preferred choice for renting out properties is slowly becoming a trend across the City
With better connectivity, Faridabad real estate market set to boom
Dec 01, 2014
Faridabad: Despite its proximity to Delhi, Gurgaon, and Noida, and with fairly good connectivity with its neighbouring cities by road and rail routes, the property market in Faridabad has not kept pace with the real estate market in other NCR cities
Financial products disguised as real estate deals offering Ponzi scheme-like returns
Dec 01, 2014
Real estate developers claim to be immune to any uncertainty, in providing returns to investors in the sector
DLF focuses on fashion, food & entertainment for upcoming mall
Dec 01, 2014
New Delhi: Realty giant DLF has decided to shift focus in its new mall -- one of the biggest in India -- in categories like upmarket fashion, food and entertainment
Black money: CBDT orders probe against select real estate firms
Nov 30, 2014
New Delhi: CBDT has ordered an Income Tax department investigation against a number of real estate developers
Affordable Housing need to be looked upon as a priority by Govt: Experts
Nov 30, 2014
Bhubaneswar: Despite Odisha had brought out the first “Affordable urban Housing scheme 2012” and a revised scheme “Affordable Urban Housing in Odisha – 2013” that was also published on 26th September 2013, enormous demand-supply gap for affordable housing still exist
Launch of the new logo of Yashada Realty Group held in Pune
Nov 29, 2014
Pune: Yashada Realty Group, a rising star of the realty industry recently unveiled their new corporate identity, logo and website
Builders slam BMC’s diktat on sale of flats on basis of food, other preferences
Nov 29, 2014
MUMBAI: Builders slam BMC's general body resolution, seeking to stall construction permissions if any builder sells flats on grounds of caste, religion or food preferences
Government to set up house panels to probe coop housing societies
Nov 29, 2014
Hyderabad: The state government has decided to set up two joint House committees to probe into the functioning of all cooperative housing societies

Latest Realty News Of State

Realty Talk's