Hyderabad: A non descript metropolis-based completely realty firm, Vipinam Avenues LLP, has allegedly peaceable hundreds of crores of rupees from potentialities by promoting undivided piece (UDS) of land with a promise to originate excessive-rise business deliver within the proposed West Wave towers within the upmarket Nanakramguda.
The promoters of the firm comprise also launched projects in varied areas in conjunction with Kollur, Adibatla, Narsingi and Shamshabad under the identical modus operandi. But, the projects remained a non-starter even years after they launched and the promoters peaceable cash from the potentialities.
In some areas the firm did not even ranking permission from the authorities interested sooner than promoting UDS, while the one taken in Nanakramguda lapsed a One year ago.
The encumbrance certificates (EC) on hand with Deccan Story show that the Vipinam community represented by its designated partner Umakanth Katta registered land, as minute as 23 sq. yards, in Sy No. 104/P of Nanakramguda to the potentialities. Per the building permission taken for the land, 10 lakh sq ft of business deliver would possibly per chance perhaps be in-constructed about five acres but there comprise been allegations that more constructed-up deliver changed into as soon as required to check the deliver that changed into as soon as equipped on paper.
As per Staunch Property Regulatory Authority Act, promoting land under the guise of UDS or pre-originate gives is illegitimate. But, the brochures and the publicity enviornment material for plenty of projects overtly yell the sale of UDS and registration of constructed-up deliver at a later time.
After Vipinam equipped land, any other firm, Anuktha West Wave Developers Pvt Ltd, promoted by Umakanth began coming into into pattern agreements with land shoppers final month utilizing the modus operandi, which based completely on RERA is illegitimate. But, no action changed into as soon as initiated by the Telangana RERA which has not had a fleshy-fledged chairman since its inception.
A talk over with to the Nanakramguda scheme revealed that no building work changed into as soon as being performed and the locals suggested that the works had been suspended more than two years ago. Deccan Story sent mails to Umakanth to the email IDs talked about within the firm files on hand with the ministry of company affairs but did not receive any answer except the record changed into as soon as filed.
The Fb pages and publicity enviornment material within the name of Remax Hyderabad also enlighten the illegal UDS remark. As an instance, a gated neighborhood, Ozone Villas County, promoted by Remax Profit promised a four-mattress room duplex villa for Rs 22 lakh if the client sold 1,200 sq yds of UDS. A retail business deliver mission in Kollur promised 1,000 sq ft of constructed-up deliver if 60 sq yds of UDS changed into as soon as bought for Rs 24 lakh. In Adibatla Dream Bewitch Apartments had been promised at Rs 12 lakh every as a pre originate offer with gather of 121 sq yds of UDS.
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