BMC seals Pyramid Developers’ Bandra project

BMC seals Pyramid Developers’ Bandra project
23/08/2017 , by , in News/Views

The BMC has sealed a controversial highrise project of Pyramid Developers at Bandra Reclamation for its failure to pay around Rs 5 crore property tax.

The BMC, on Friday, had pasted a notice outside the under-construction highrise— LE88 —over non-payment of property tax. According to BMC, the developer had paid just Rs 1.5 crore of the around Rs 6 crore property tax on the land in March and not the rest, despite reminders. After completing the legal formalities, the BMC decided to seal the building and stop all internal work to compel the developer to pay the amount. Once the builder pays the dues, the BMC will allow work to resume.

The enforcement directorate (ED) had registered a case against Congress leader Baba Siddique in May for allegedly laundering money in the project through his associates and helping them manipulate records to get more construction rights for the luxury highrise where several film personalities have booked flats.

ED also had booked the developer along with Siddique in the money-laundering case and searched their premises. The ED suspected that Siddique had laundered money in the project. The ED had recorded detailed statements of both Siddique and Rafiq Qureshi of Pyramid Developers in the case. The agency is examining the collected documents and analyzing their financial dealings, after which it will call them to make statements. Officials alleged that the accused had manipulated documents to get the project that caused Rs 400 crore loss to the government.

ED officials said manipulation of construction rights using forged documents allowed the developer to procure 89,000 square metres of rights worth Rs 2,000 crore against 9,000 sq m it was eligible for. The tower is part of freesale component in redevelopment of Jamat-e- Jamooria, a slum cluster.

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