Thane Land Scam: 64 Acres Sold for Rs 75 crore to Fenkin Infotech.

In a major Land scam expose that has rocked Thane’s real estate and political corridors, a 64-acre land parcel belonging to a charitable trust was allegedly sold at a throwaway price in a premeditated land grab. The land, located along the rapidly developing Thane-Ghodbunder Road near Vadavli and Owale, was sold for just Rs 71 crore despite an estimated market value of over Rs 1,000 crore.

Sprouts News Special Investigation Team (SIT) has learned that this transaction was executed in haste just before the Thane Municipal Corporation’s Draft Development Plan (DDP) was finalized. The objective appeared to be quick monetization of Transfer of Development Rights (TDR) even before zoning reservations could be updated in the public domain. However, the Bombay High Court has now intervened, halting the scheme and questioning the credibility of the valuation and sale process.

Documents reviewed by Sprouts News reveal that trustees of the Premji Charitable Trust orchestrated the sale of 64 acres—27 acres in Vadavli and 37 acres in Owale—through a suspiciously under-valued transaction. Despite its classification as green zone land previously reserved for a ‘Shallow Water Park,’ the parcel was sold to a private entity, Fenkin Infotech, for Rs 75 crore, allegedly without proper competitive bidding.

Insiders say the valuation agency appointed by the trustees had appraised the land at nearly 80% below the prevailing market rate. Questions are also being raised about the timing: the deal was completed just days before the development plan was officially announced, which designated the land for future institutions like the Institute of Chemical Technology and a convention center.

Following the sale, entries in the 7/12 land extract were updated at unprecedented speed, transferring ownership and initiating the process to generate TDRs—a mechanism that enables developers to earn construction rights elsewhere in the city.

As rumors of political involvement and potential kickbacks started gaining ground, Thane Municipal Commissioner Saurabh Rao refused to sign off on the TDR issuance linked to the transaction. Multiple complaints had been submitted, alleging irregularities in the valuation and process. Attempts to reach Rao for an official comment remained unsuccessful at the time of publishing.

The matter escalated to the judiciary when former trustee Aniruddha Makhecha filed a petition in the Bombay High Court. In a March hearing, Justice Amit Borkar ruled to cancel the land deal, citing valuation inconsistencies and procedural opacity. The court’s intervention not only voided the transaction but also cast a spotlight on potential collusion between trustees, developers, and certain officials.

Taking serious note of Sprouts News’ findings and the High Court’s observations, Chief Minister Devendra Fadnavis has directed the concerned departments to conduct a full-scale investigation. He has also instructed the Law and Judiciary Department to evaluate the possibility of appointing an administrator to oversee the trust’s operations going forward.

In a significant administrative action, Sub-Divisional Officer Urmila Patil recently issued orders cancelling the land mutation previously done in favor of Fenkin Infotech. This move is being seen as a direct consequence of judicial pressure and public outcry.

The original development plan had green-space reservations on the land, but these were replaced in the new draft DDP to allow institutional construction—raising red flags about inside knowledge and planning manipulation. Though the High Court has nullified the transaction, concerns persist regarding who authorized the valuation, how permissions were fast-tracked, and whether political leaders accepted advance payments against potential TDR profits.

This land scam underscores the growing misuse of charitable trust land for commercial gain under the garb of urban development. As per Sprouts News investigations, this is not an isolated incident but part of a larger pattern where green belt zones are quietly converted and flipped for profit, bypassing legal scrutiny and ethical governance.

Sprouts News will continue to track this case and others like it, bringing transparency to urban planning and holding accountable those who abuse public trust for private profit.