₹653 Crore Pune TDR Scam Unearthed in Parvati Slum Rehab Project.

Pune TDR Scam: ₹653 Crore Fraud Unearthed in Parvati Slum Rehabilitation Project

• The Core of the Scam: How TDR Value Was Inflated

• Shocking Discrepancy: From ₹763 Crore to ₹110 Crore

• The Parvati Land Plots: A Prime Location at the Heart of the Fraud

A Sprouts News investigation led by Editor-in-Chief Unmesh Gujarathi has exposed a ₹653 crore TDR (Transferable Development Rights) fraud in Pune’s Parvati slum rehabilitation project. The Slum Rehabilitation Authority allegedly inflated land valuations for three prime plots — Final Plot 519, 521(A), and 521(B) — totalling 1.92 lakh sq. ft. While the SRA recommended TDR worth ₹763 crore, the actual valuation stands at only ₹110 crore, revealing a staggering ₹653 crore discrepancy.

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Pune TDR Scam: ₹653 Crore Fraud Unearthed in Parvati Slum Rehabilitation Project

A massive ₹653 crore Transferable Development Rights (TDR) scandal has rocked Pune’s urban development circle. The scheme involves a slum rehabilitation project in the prime Parvati area. Official documents reveal an alleged massive inflation of TDR value. The Town Planning and Valuation Department’s investigation has exposed the potential fraud.

The scandal centres on three specific land parcels in Parvati. These plots are numbered Final Plot 519, 521(A), and 521(B). Their total area spans 1.92 lakh square feet. The Slum Rehabilitation Authority (SRA) recommended TDR worth ₹763 crore for acquisition.

Shocking Valuation Discrepancy Exposes Core Fraud

The Town Planning department’s probe revealed a staggering discrepancy. Their audit found the actual TDR value should be approximately ₹110 crore. This indicates a potential inflation of ₹653 crore in the recommended value. The inflated sum would have been an enormous windfall for private builders.

The investigation began after the District Stamp Office requested clarity. They sought the official Annual Rate of Value for the three disputed land parcels. Standard rates for these specific plots were not publicly available. This request triggered the department’s deep dive into the SRA’s calculations.

The Modus Operandi: Deliberate Rate Confusion

Authorities suspect the inflation resulted from deliberate “rate confusion.” The SRA reportedly applied incorrect valuation criteria for the prime land. This misapplication directly created the inflated ₹763 crore TDR proposal. The scheme unjustly benefited certain construction businesses.

The Slum Rehabilitation Authority manages a massive 100-acre area in Janata Vasahat. This zone includes about 12,000 slum dwellings spread across 15 hectares. The redevelopment plan involves acquiring private land for rehabilitation buildings. Private landowners were to be compensated with TDR instead of cash.

Official Findings Confirm Location and Value Manipulation

The Town Planning department sent a detailed letter to the Stamp Duty office. It clarified the correct valuation for the plots in City Survey No. 661. The department stated the SRA’s proposed location and valuation were incorrect. This official communication is a key piece of evidence.

The letter specified the land’s sanctioned development plan and reservation status. After a thorough review, the open land value was fixed at ₹5,720 per square foot. This accurate valuation confirms the legitimate TDR value is only around ₹110 crore. The state government had already approved the SRA’s flawed proposal.

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Understanding TDR: The Engine of Urban Development

Transferable Development Rights are crucial in Indian city planning. TDR allows a landowner to transfer development potential to another location. It is often used as compensation for acquiring land for public projects. This tool is vital for creating infrastructure and affordable housing.

In this case, TDR was the chosen compensation for the private landowners. The inflated value meant builders would receive far more development rights than deserved. These rights could then be sold for huge profits in Pune’s real estate market. This represents a significant loss to the public exchequer.

Broader Implications for Pune’s Urban Governance

This alleged TDR scam raises serious questions about Pune’s urban governance. The potential ₹653 crore loss highlights critical systemic vulnerabilities. The Slum Rehabilitation Authority’s internal checks and balances have demonstrably failed. This case could impact numerous other ongoing redevelopment projects.

The Sprouts News Special Investigation Team finds this case emblematic of deeper issues. The reliance on TDR for urban infrastructure is a cornerstone policy. Such significant alleged fraud undermines public trust in the entire planning process. It also deprives the municipal corporation of essential resources.

The Fallout and Expected Next Steps

The Town Planning department’s findings have triggered a major administrative storm. An official inquiry is expected to determine liability for the flawed valuation. Questions are being raised about the SRA officials who processed the proposal. The role of the private builders who stood to gain is also under scrutiny.

The case underscores the urgent need for transparency in TDR calculations. Automated and auditable systems for valuation could prevent such incidents. For now, the proposal is effectively stalled pending a comprehensive review. All eyes are on the state government’s next move in this investigation.

A Stark Warning for Urban Development in India

The ₹653 crore Pune TDR scam serves as a stark warning for Indian cities. Robust mechanisms are essential to safeguard urban development funds. This ensures public projects benefit citizens, not select private interests. The Sprouts News investigation will continue to monitor this developing story.