Summary

Companies-entrepreneurs make a profit on farmhouse allocations but invest their earnings in a home crisis.

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The Comptroller and Auditor General of India (CAG) questioned the Noida Authority’s farmhouse allocation plan and said it had caused a loss of Rs 2,833 crore to the exchequer. Under this scheme, 18.37 lakh square meters of land was allotted to 157 applicants at the lowest reserve price. The regulations were not followed and permission was not sought from the government.

The 478-page report was tabled in the Legislative Council on Friday. These disturbances took place during the Mayawati government between 2008-11. According to the report, agricultural land was collected from farmers and allotted to them close to developed sectors filled with corporate offices. This has led to a significant increase in their value in the real estate market. The audit team inspected sectors 126 and 127 and found that the sectors were fully developed.

At least 10,000 square meters of farmhouses have been allotted, of which the swimming pool, residential unit and sports ground have been approved. According to the report, the market rate for those with full repayment capacity is Rs 14,400, while the allotment rate is set at Rs 3,100 per square meter. As a result, Rs 2,833 crore was lost without any public benefit.

Loss of Rs.1316 crore due to arbitrary rates
The report reveals that farm house pricing regulations were not the same between 2005-18. The Board has arbitrarily fixed the allocation rates. This alone caused a loss of Rs 1316.51 crore. Regardless of the increase in reserve prices, an allocation has been made for more built-up area, which will be Rs. Failed to recover revenue of Rs 13,968 crore.

Billions were owed and land was given at a low price
Amrapali, which had not previously paid the arrears, made several allocations to Unitech Group companies. These two allocations amount to Rs.9828.49 crore as on March 2020.

  • In the year 2015-18, 79.83% of the total allocation was made to three groups namely Wave, 3C and Logics. Of these three, 14959 crore are in arrears.
  • 63% of group housing projects are unfinished. Of the 1.30 lakh flats approved, 44% did not issue occupancy certificates.
He was also very arbitrary in the allocation of assets and farm houses. Allocated to the ineligible, the CAG report said. The Land Allocation Committee (PAC) did not follow a transparent process to interview the applicants. It is clear that the allocations were made as per the PAC recommendation as the scheme guidelines were trampled on and disqualified. From the audit point of view, important land with special space was used for luxury work without being used for public purposes.

Board, management, officials fail: Noida found several irregularities in the allocation of assets. Failures were seen at the level of Noida board, management and officers. Master Plan-2031 was designed to address various shortcomings in Master Plan-2021, but it also failed to take into account issues raised by the National Capital Region Planning Board (NCRPB). Sports City and Mixed Land Use Schemes have been launched though not connected with Noida’s original objective of promoting industries. The Authority made extensive use of the emergency provision in land acquisition. On the other hand there was an administrative delay of 11 to 46 months in the submission of final proposals for land acquisition. The Authority paid a lump sum of Rs 373.85 crore in lieu of the prescribed rehabilitation policy.

Allocation to CBS despite disqualification: CBS allotted a plot of 1,02,949 sq m to this international project with a premium of Rs.52.77 crore. The audit results indicate serious flaws in Noida’s governance structure. The report is riddled with instances of violating rules and regulations and deliberate suppression of facts.

Similar scams
The golf course area is divided into 13 plots, with 65 acres of golf course development not possible. Much of the International Cricket Stadium is yet to be taken over. Allocation to the ineligible. Exceptions not allowed for IT and ITeS platforms are allowed. The rates set for the allocation of farmhouses are not in the public interest. The actual working industrial area is only 5 per cent of the total area. The Mixed Land Use Policy has been implemented to take undue advantage of Noida costs.

Home buyers lose life savings: While the government is distributing land in the name of farmhouses to influential builders, 63% of group housing projects are unfinished. Of the 1,30,005 flats approved, 44% did not issue occupancy certificates. Because of this, buyers who invest in lifetime savings and hard-earned money have so far lost possession of flats.

Audit Focus for 2005-18: The CAG Report on Noida’s policies and procedures followed in 2005-18 for land acquisition and allocation of assets under group housing, commercial (including sports cities), institutional (including farm houses) and industrial categories.

Consequently, master plan preparation and asset valuation were also examined to reveal improvement opportunities in these areas.

Range

The Comptroller and Auditor General of India (CAG) questioned the Noida Authority’s farmhouse allocation plan and said it had caused a loss of Rs 2,833 crore to the exchequer. Under this scheme, 18.37 lakh square meters of land was allotted to 157 applicants at the lowest reserve price. The regulations were not followed and permission was not sought from the government.

The 478-page report was tabled in the Legislative Council on Friday. These disturbances took place during the Mayawati government between 2008-11. According to the report, agricultural land was collected from farmers and allotted to them close to developed sectors filled with corporate offices. This has led to a significant increase in their value in the real estate market. The audit team inspected sectors 126 and 127 and found that the sectors were fully developed.

At least 10,000 square meters of farmhouses have been allotted, of which the swimming pool, residential unit and sports ground have been approved. According to the report, the market rate for those with full repayment capacity is Rs 14,400, while the allotment rate is set at Rs 3,100 per square meter. As a result, Rs 2,833 crore was lost without any public benefit.

Loss of Rs.1316 crore due to arbitrary rates

The report reveals that farm house pricing regulations were not the same between 2005-18. The Board has arbitrarily fixed the allocation rates. This alone caused a loss of Rs 1316.51 crore. Regardless of the increase in reserve prices, an allocation has been made for more built-up area, which will be Rs. Failed to recover revenue of Rs 13,968 crore.

Billions were owed and land was given at a low price

Amrapali, which had not previously paid the arrears, made several allocations to Unitech Group companies. These two allocations amount to Rs.9828.49 crore as on March 2020.

  • In the year 2015-18, 79.83% of the total allocation was made to three groups namely Wave, 3C and Logics. Of these three, 14959 crore are in arrears.
  • 63% of group housing projects are unfinished. Of the 1.30 lakh flats approved, 44% did not issue occupancy certificates.

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