GHAZIABAD– In a further development for the real estate sector in Ghaziabad, the Central Bureau of Investigation (C.B.I.) has begun an inquiry into two major building companies, Red Apple and Manju Homes India Limited. The investigation was prompted by a direct order from the Supreme Court, which mandated a thorough examination of alleged malpractices. The agency’s focus is on uncovering a potential conspiracy involving the builders and banking institutions, which is suspected to be at the heart of the ongoing financial troubles facing thousands of property buyers.
G.D.A. Visited and Documents Requested
As part of its initial inquiry, a C.B.I. team visited the Ghaziabad Development Authority (G.D.A.) office on Wednesday. The purpose of the visit was to collect original documents related to the projects of the two builders. The C.B.I. requested original ownership papers, approved maps, and other essential files for the stalled projects. According to Pradeep Kumar Singh, a senior official, the G.D.A. is cooperating fully and will hand over the required documents in accordance with legal procedures.
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Homebuyers’ Money Trapped in Stalled Projects
The investigation comes after numerous complaints from more than a thousand homebuyers who have invested their money in these projects. The builders are accused of committing fraud amounting to crores of rupees. For a considerable period, work on the construction sites has been at a standstill, leaving the buyers in a state of uncertainty. Many of these allottees have already filed official complaints at various police stations, including the Nandgram police station, highlighting the widespread nature of the issue.
On-Site Inspection and The Need for Original Files
To gain a comprehensive understanding of the situation, the C.B.I. team not only gathered documents but also conducted a physical inspection of the project sites, particularly at the Rajnagar Extension. While the agency had previously obtained photocopies of the project documents, officials now deem it necessary to acquire the original files to move the investigation forward.