Realtor arrested for duping HAL housing committee

Sambad English Bureau Published On : Apr 29, 2014 at 8:38 PM

Reported by Santosh Jagdev

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The Economic Offences Wing (EOW) of the State Crime Branch (CB) today said the managing director of Gajanan Property Dealer and Construction Pvt. Ltd. Niranjan Parida of Kendrapara was arrested on charges of misappropriating an amount of Rs 2.84 crores from HAL housing committee in a land deal and forwarded to the court today.

CB DIG Rajesh Kumar said that Parida had entered into an agreement with HAL Housing Committee, Sunabeda on February 4, 2009 to provide 50 acres of land at Jagannath Prasad Mouza in Bhubaneswar at the rate Rs 19.35 lakh per acre including cost of land, cost of registration, conversion, mutation and payment of up-to-date revenue tax within the stipulated period of March 31, 2009 to the committee. But Parida failed to hand over the promised land within the stipulated timeframe though he was paid Rs 50 lakh as advance.

Parida then entered into a second agreement with the HAL housing committee on July 31, 2009 to provide land in Dhauli Mouza in Kaushalyapur, Bhubaneswar at Rs 20.5 lakh per acre by September 30, 2009 to the committee. But once again he failed to keep his promise and signed a third agreement with the same committee on January 1, 2010 to provide 50 acres of land in Giringaput and Bhagabatipur Mouza here at Rs 22.3 lakh per acre by October 31, 2010 to the committee.

Parida acquired 48.510 acres of land in Giringaput and Bhagabatipur Mouza and registered around 42.151 acres of land in the name of the committee while keeping 6.359 acres of land in his own name. The cost of the land registered in the name of the committee was worth Rs 9.4 crores whereas he had received an amount of Rs 11.27 crore towards the cost of the land. An additional Rs 55 lakh was also paid to Parida by the committee towards development cost of the land.

But the accused neither did any developmental work nor the conversion and mutation of the property as promised by him. In the process the accused Parida misappropriated an amount of Rs 2.84 crores, the CB DIG said, adding he was forwarded to the court today.