The Brave Pedestrian

Figures manipulated to show Rs 110 cr. profits as Rs 12 cr. only 5th November, 2015, Mumbai: Builders usually underplay the monetary value of their redevelopment projects so that they can offer tiny amounts as bank guarantees, and so that they can evade income-tax and earn pots of money in cash. Mulund’s Shree Gurukrupa Nagar Cooperative Housing Society seems to be a live example. Project Management Consultant Atul Mehta wrote in his project report ( http://tinyurl.com/Atul-Mehta-PMC-report1 ) that the builders, Concrete Siresukan Realty LLP, would earn a profit of only Rs 12.14 crore after building over one lakh square feet! If the PMC’s report is to be believed, the three LLP partners -- namely Anuj Desai, Nilesh Dalal and Bharat Talesara -- would together earn the market price of 8 to 12 flats after slogging for a couple of years to get all the necessary building permissions, and then another 2-3 years constructing over 160 flats totaling one lakh square feet, and then han...

What Fresh Documents & Videos reveal about the Concrete Sire Sukan scam – part 1 Mumbai, October 1, 2015:  Mumbai is full of redevelopment activity that feels less like an honest business, and more like hostile takeover or creeping acquisition of flat-owners' assets. Cooperative housing society members who are at the receiving end of  such takeovers should read this article to understand how exactly this activity is carried out. Interesting documents and videos have been released by the motley bunch of builders and estate agents engaged in a hostile takeover of Shree Gurukrupa Nagar Cooperative Housing Society in Mulund West. In late 2013 or early 2014, Bharat Talesara alias Jain, an estate agent or “redevelopment consultant”, approached the office bearers of Shree Gurukrupa Nagar CHS and convinced them to let him handle their redevelopment. The office-bearers agreed to rig the society's tendering process and select him. To facilitate this rigging, Atul Mehta (B.E. Civi...