Land Mafia Making Money on NRI Land

June 29, 2007	(Be the first to rate this story!)  Loading ...
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The land mafia in the national capital is inclining towards Non Resident Indians (NRIs) who buy land in India but don’t ponder upon to take care of it, a fact which is enough for such gangs to grab their land and sell it illegally at high prices.

NRIs are increasingly falling prey to the land mafia. However, the Delhi police officials are looking into the matter. Usually, a bunch of treacherous real estate agents form a well organized network to keep an eye over the lands and properties of NRIs who invest in India but hardly visit.

The land mafia has woven a complex web comprising government and bank officials to keep a check on people who rarely visit their properties in India, says a police official.

They are the corrupt people who draft forged documents to sell land and create trouble for NRIs by obtaining bank loans against their property.

At least 14 cases of debauchery regarding property owned by NRIs have come into view, mostly in upmarket areas of South Delhi.  The culprits work with master planning.  They avail all information regarding the property owner’s visit and duration of stay through their strong contact. And then begins the process of studying the status of their properties, explains the police.

In a majority of fraudulent cases, the property dealer who stays in close proximity to the property is first lured into the mafia group. The original conveyance deed does not include any photograph of the actual property owner. Taking the benefit of this fact, the newcomer in the gang executes a general power of attorney (GPA) in favor of the property dealer.

Once, all the required legwork is complete, the mafia creates confidence in a prospective property buyer, showing him a pink picture of the particular property which is available at down to earth prices.

This is how the land mafia is fetching big amount in return of NRIs properties.

News Published Under:   Delhi, Non Resident Indian (NRI) |