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Great Eastern Summit (Belapur) hit by Conveyance Deed scam

Great Eastern Summit (Belapur) hit by Conveyance Deed scam

In another ‘Conveyance’ scam of mammoth proportions,the jt.registrar of co-operative societies Mr.Sandeep Deshmukh has appointed a special auditor to probe allegations of swindling against the committee members of Great Eastern Summit ‘A’ . An NGO by the name of Sahayak has alleged that the managing committee obtained Rs 30 Per Sq foot from society members...

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Pujit Aggarwal of Orbit Corporation arrested for fraud

Pujit Aggarwal of Orbit Corporation arrested for fraud

Realty firm Orbit’s MD, Pujit Aggarwal was arrested on Monday, 12th September, for a fraud and cheating case registered by a firm called Capri Global Capital. The firm, Capri Global Capital had booked 3 flats in Orbit’s Sakinaka project called Orbit Residency Park.The said project was mortgaged to Life Insurance Corporation in 2008 itself . According...

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Joint owner not liable to pay Tax if no amount paid from his/her account for purchase of property

Joint owner not liable to pay Tax if no amount paid from his/her account for purchase of property

The Mumbai Income Tax Appellate Tribunal has ruled that Joint owners of properties by mere name cannot be held liable for Tax liabilities if the purchase of the property was not financed by him/her.Many people/couples purchase flats/properties in Joint names for convenience and security sake,but the money is paid entirely by one of the parties....

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Banks face huge defaults as Real Estate sector faces meltdown

Banks face huge defaults as Real Estate sector faces meltdown

With sales refusing to pickup and the economy in dire straits,its no secret that the real estate sector is in a severe recession.Not only have new projects failed to find any takers,even the old ones are struggling to survive.That the builders are in a severe mess is evident by the ongoing public outcry,court cases,media coverage,street...

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