Saturday, February 17, 2018
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These days anything can happen in Uttar Pradesh. It has happened in Noida. It can happen in Allahabad as well. It might even have happened for all that one knows but the fraud might not yet have been detected. The tragedy is that the fraud in many cases is not being committed by a builder alone.

Others are involved too.  Whom is one to trust if one finds that the land-deal  cleared by official agencies is not above board? The other day a case was reported to me from Allahabad itself. This only shows that the ADA Vice Chairman, no matter how honest and good-intentioned he may be,  cannot keep an eye on his entire  staff , more so  in case they profess to be honest which they may not be. But more on that later.
Right now I want to draw your attention to the underhand dealings in Noida  where a big housing scam has been unearthed. A developer, call him a builder if you like, sold flats not one each to a solo buyer but  simultaneously sold a single housing unit to many purchasers and got away with it. The most shocking aspect of the scam is that even some banks provided home loans to two or more buyers of the same residential quarter. More than 400 people have been cheated that way. Each one of them has been fleeced of money ranging between  Rs 25 and Rs 35 lakhs!  This  couldn’t have happened without the connivance of insiders. No wonder the Reserve Bank of India has initiated an inquiry into the scam.  The DM of  Gautam Budh Nagar  has also ordered a probe. In such cases what will happen to the actual occupier of the house if other claimants also come for possession, knocking at their door?
This is happening because the craving for a house has become too overpowering to be resisted in most cases especially if the party has money at hand or is certain to arrange for the necessary funds via the banks. And what do the connivers among the bank staff get? Obviously commission on the amount sanctioned. If the same property has been sold ten times then the cheat will be getting commission ten times! One hopes that something drastic will be done to prevent such frauds. This can happen if there is total transparency in respect of any housing deal which is clinched. But who will ensure that transparency ?

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