Shocking information about the high selling rate of Parandur land has come out now?
Posted on: 20/Aug/2022 9:54:47 AM
The latest news that has emerged out now is that a DVAC or Directorate of Vigilance and Anti-Corruption probe has been sought into the allegations of the officials registering 117.5 cents of lands at higher prices than the existing market and guideline value. It must be noted that the land is a part of 73 acres that has been earmarked for acquisition for the second airport in Chennai. Strict action would be taken against the officials involved and this was as per a top registration official.
Registration of sale deeds of unapproved and unauthorized layouts has been banned in TN. This was mentioned in the circular that was issued by the Inspector General for registrations and a judgement from the High Court in Madras.
Mr. Jayaram Venkatesan, Convenor of anti-graft NGO Arappor Iyakkam, 4 sales deeds were registered for 49.5 cents of 54.01 acres, 25 cents of 9.05 acres, 21 cents of 4 acres and 22 cents of 5.94 acres of land. He explained that the guideline value was Rs 8.71 lakhs per acre 49.5 cents of lands (part of 54.01 acres) were registered by the sub-registrar for Rs 32.40 lakhs.
For the exchequer, this transaction would cause a loss of Rs 165 crores. It must be noted that the consideration value for 49.5 cents or 21600 sq ft was Rs 3240000. This was found in the EC or encumbrance certificate. By this, the value of one acre of land or 43560 sq ft of land would be inflated to Rs 65.45 lakhs from Rs 8 lakhs.
