Builder sells same flats to multiple buyers with banks’ help!

In Noida, a developer was found to have sold apartments to multiple buyers while banks and finance companies, such as Axis Bank, Oriental Bank of Commerce and Syndicate Bank, and housing finance companies, like HDFC, LIC Housing, Dewan Housing, Punjab National Bank Housing Finance and Indiabulls, provided home loans to two or more buyers for the same dwelling unit. Shiv Kala Charms has allegedly ripped off more than 400 people, defrauding them of monies ranging from Rs25 lakh to Rs35 lakh.

The scam first came to light on 31 August 2011 when HDFC Bank published a list of 78 apartments in Shiv Kala Charms, stating that these were legally mortgaged to the Bank. Home-buyers were shocked to find their apartment numbers on the list.

National Housing Bank, looking into the matter on the RBI’s instructions, found that banks financed several ‘non-existing flats’ and identified several cases where more than one mortgage was granted on a single flat.
 

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Gurgaon makes CCTVs mandatory for housing societies

The Gurgaon administration has made it mandatory for housing societies in the district to install CCTV cameras. The order also covers pubs and bars. It says cameras must be installed at the entry and exit gates, be of good quality, and store footage for at least 30 days. Violators will be punished under Section 188 of the Indian Penal Code. Installation of CCTV cameras will cost each society around Rs30,000.

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Norms soon to monitor building plan compliance in Chennai

Licensed surveyors who prepare building plans for the municipal corporation’s approval will also be held responsible for monitoring and compliance, said Chennai corporation’s commissioner, Arvind Kapur. These surveyors will also have to monitor the construction when the plinth is laid, roof slab is cast and the building is completed. If there is any deviation, it is their responsibility to inform the authorities or they will lose their licence to practice. Over the past two years, the corporation has issued stop-work notice to 1,174 buildings, lock and seal notice to 421 and locked and sealed 104 buildings, he said.

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