Regency Group Accused in ₹7,000 Crore Thane Land Scam.

₹7,000 Crore Thane Land Scam: Regency Group Accused in Sprouts News Expose

• The 12-Day Land Grab: How the Scam Was Engineered

• Regency Group’s Alleged Role in the Multi-Crore Fraud

• The Cooperative Society Facade: Cheating Farmers, Benefiting Builders

A Sprouts News investigation has uncovered a ₹7,000 crore land scam in Thane’s Mharal village, allegedly masterminded by the Regency Group with the help of officials. The developers are accused of acquiring 63 acres of government land through a fraudulent cooperative society facade, cheating farmers and manipulating land records. Raised in the Maharashtra Assembly by Vijay Wadettiwar, the scandal has triggered demands for an urgent probe and recovery of the encroached public property.

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Maharashtra Land Scam: Regency Group Accused of ₹7,000 Crore Fraud in Thane

A massive ₹7,000 crore land scam has surfaced in Maharashtra’s Thane district, implicating prominent real estate developer Regency Group. The scandal involves 63 acres of government land in Kalyan’s Mharal village, allegedly usurped through a collusive network. This Sprouts News investigation uncovers a web of corruption involving revenue officials and a farmers’ cooperative society.

Former Leader of Opposition Vijay Wadettiwar raised the issue in the State Assembly on 11th July 2024. He demanded an immediate inquiry and land reversion within one month. The legislative assembly speaker Rahul Narwekar directed the government to take appropriate action.

The 12-Day Land Grab: How the Scam Unfolded

The Mharal Community Farming Cooperative Society illegally transferred the land in 2008. The entire transaction was completed within just twelve days, violating established procedures. Revenue department officials allegedly collaborated in this accelerated process.

Regency Nirman Limited acquired the prime 63-acre plot for merely ₹4 crore. The company paid ₹1.68 crore to the government through its Saraswat Bank account. This transaction revealed the builder’s direct involvement in the questionable deal.

Violation of Terms and Massive Valuation Fraud

The cooperative society breached essential terms and conditions of the land allocation. Agricultural land was illegally diverted for non-agricultural purposes without proper permissions. This conversion formed the legal basis for the fraud allegations.

The land’s valuation was deliberately suppressed to benefit the builder group. Actual market value was estimated at approximately ₹7,000 crore. Regency Group stands to gain potential profits up to ₹30,000 crore from subsequent development.

Also Read: Mumbai Municipal Rebellion: 17 Officers Revolt Against BMC.

Political Intervention and Delayed Investigation

Revenue Minister ordered a single-member committee to investigate the scandal. Three months have passed since the assembly discussion without any conclusive findings. The investigation deadline has been repeatedly extended despite ministerial assurances.

Wadettiwar insisted the land should revert to the revenue department immediately. The breach of conditions provides legal grounds for land reacquisition. The speaker directed the government to act on the opposition leader’s demands.

Systemic Failures in Land Administration

The scandal exposes deep-rooted corruption in Maharashtra’s revenue department. District administration officials in Thane allegedly facilitated the fraudulent transaction. The system failed to protect poor and marginal farmers’ interests.

The cooperative society mechanism was exploited to bypass land ceiling laws. Farmers were systematically cheated through manipulated documents and valuations. The original purpose of community farming was completely subverted.

Broader Implications for Land Governance

This case represents a pattern of land scams across Maharashtra. Politician-builder-official nexus continues to exploit legal loopholes. Public land systematically gets transferred to private entities through fraudulent means.

The Sprouts News investigation reveals urgent need for land reforms. Transparency in land transactions remains a major governance challenge. Farmers’ cooperative societies require stricter oversight and monitoring mechanisms.

Current Status and Future Course

The investigation committee continues its work with extended deadlines. Public interest litigation is expected if government action remains delayed. The revenue department faces pressure to reclaim the valuable land parcel.

Regency Group’s projects face uncertainty amid serious corruption allegations. The company’s reputation risks significant damage from the ongoing scandal. Home buyers in ongoing projects express concerns about project completions.

This case tests the government’s commitment to combating land mafias. Swift action could set precedent for handling similar land scam cases. Delayed justice might encourage similar fraudulent transactions across the state.

The Thane land scam highlights critical vulnerabilities in land governance. It underscores the urgent need for digital land records and transparent processes. The outcome will signal Maharashtra’s seriousness about combating corruption in land administration.