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The issue of fraudulent practices by developers and colonizers in India has been a pervasive problem for many years, and unfortunately, it continues to persist in some areas. Recently, the Indore district administration has taken action against three private colonies - Kalindi Gold, Phoenix Township, and Satellite Hills - where developers have been accused of cheating plot owners through various means.
The district administration has served a final notice to the developers, including Ritesh alias Champu Ajmera, Chirag Shah, Mohan Chug, Kailash Garg, and Happy Dhawan, demanding that they settle their accounts with the plot owners they allegedly cheated. According to sources, only a few of the buyers were able to obtain possession and other rights related to the property they had paid for after the developers were granted bail by the Supreme Court in November 2021.
The district administration had proposed a formula for providing relief to approximately 250 plot buyers in the three private colonies. The apex court granted bail to the developers/colonizers on the condition that they would settle their accounts with the victims they had allegedly cheated. The district administration had recorded statements from homebuyers who were either not given possession of the properties, had their properties sold to multiple people, or were cheated through other means in the three colonies.
The officials had also recorded statements from the colonizers and their family members, including Chirag alias Champu Ajmera, Happy Dhawan, Rajat Bohra, Manish Panwar, Sazid Khan, Kailash Chandra Garg, Vikas Choukse, Yogita Ajmera, and others, agreeing to settle their accounts with the victims. However, despite more than 15 months having passed, many of the complainants were still not settled, prompting the district administration to issue a final notice to the developers/colonizers.
It is important to note that this is not an isolated incident. Cases of fraudulent practices by developers and colonizers have been reported across the country, and it is a matter of concern for all stakeholders. The real estate industry is a crucial contributor to the Indian economy, and fraudulent practices by a few can have a significant impact on the sector's overall growth and development.
In conclusion, the action taken by the Indore district administration against developers in Kalindi Gold, Phoenix Township, and Satellite Hills is a step in the right direction. It is imperative that authorities take strict action against those who engage in fraudulent practices, and that homebuyers are protected and provided with the necessary relief and justice.
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