The year 2017 has not been particularly good for the Lodha Developers, at least not on legal front where one of Mumbai's biggest real estate firms has had to deal with at least three cases that brought their name under cloud.
The first big blow for the real estate biggie was a Maharashtra Real Estate Regulatory Authority order that forced the Lodhas to refund booking amount to a complainant who had cancelled his booking in Lodha's Ultima project in Thane. A homebuyer Roshan Nawale had lodged a complaint with the newly installed housing regulatory authority saying the developer was not returning his money even though he had cancelled his booking at Ultima in Thane. Sensing trouble, Lodha Developers ate the humble pie and agreed to return his money on the day of the hearing September 12 and paid Rs 1.08 lakh.
Another complaint against Lodha Developers was heard by MahaRERA on October 10. The complainant Sheo Pratap Singh informed the authority that he wished to withdraw the complaint to pursue the matter in a consumer court. "During the hearing, the complainant appeared through his Advocate Abhishek Gokhale and Advocate Rahul Wardhan represented respondent. The complainant filed an application for withdrawal of complaint as he wants to approach the Consumer Court. The same is accepted," the MahaRERA order reads. Singh had approached MahaRERA seeking interest and compensation for undue delay by the developer for handing over possession of a flat.
But the biggest blow was alleged case of stamp duty evasion by the Lodha Developers in a land transaction in Wadala where the Mumbai Collector of Stamp Duty slapped a notice of Rs 470 crore seeking dues and penalties for alleged stamp duty evasion. The land deal was worth Rs 5,700 crore.
The Inspector General of Registration (IGR) Maharashtra is expected to pass an order soon the matter. The matter even went to the Bombay High Court, which asked the developer to pay Rs 202 crore. A hearing regarding the same is in process with the IGR. IGR Anil Kawde said, "I am yet to pass an order in the matter." A spokesperson for Lodha Developers claimed the entire amount of Rs 200 crore had already been deposited.
Also read other news of Lodha Developers
- Lodha Developers to file for $1 billion IPO this month
- Lodha group revives IPO plans; looks to raise Rs 3000-6000 crore
- No relief for Lodha group on sale of flats in Hyderabad's Bellezza project
- Hyderabad HC restrains Lodha from selling 73 unsold houses
- Raymond, Lodha put Mumbai office properties on the block
- Lodha Builder Scam
Join the Largest Community of Whatsapp Group of Real Estate Buyers in India on Best Real Estate Review Website for more information and news related to builders.
No comments:
Post a Comment