Office bearers of housing societies arrested for duping 350 investors of ₹40 crore - News Summed Up

Office bearers of housing societies arrested for duping 350 investors of ₹40 crore


“So far, we have received willingness from owners of 6,500 hectares of land in Delhi for the land pooling policy, but there is not even a single sector where the 70% participation requirement has been fulfilled. The DDA had approved the land pooling policy in February last year to ensure sufficient homes in the city. “Our investigation has revealed that these illegal housing societies misused the idea of DDA’s land pooling policy to portray that the projects are authorised by the government,” said Mishra. “They formed housing societies and created websites to lure buyers and sent bulk text messages to people in Delhi-NCR about housing projects which legally cannot be constructed,” said Mishra. “People are being made aware that no land has been allotted yet to any developer for any housing projects under this policy,” said the official.


Source: Hindustan Times August 20, 2020 08:59 UTC



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