The Directorate of Vigilance and Anti-Corruption (DVAC) has registered a case of graft against Kumbakonam district registrar (admin) and two former office-bearers of Tiruchirappalli Cooperative Housing Construction Society for allegedly sanctioning the sale of seven commercial plots at a very low rate than the market value.
Chennai: A DVAC FIR, registered last week, said the sale the decision by the trio resulted in a loss of more than Rs 6.5 crore to the society during the year 2016 and 2017. It cited present Kumbakonam district registrar K Suseela, who was working as Urayur sub-registrar when the malpractice happened. Other accused are M Karmegham, former secretary of the society and P Muthukumar, former executive committee chairman of the society.
According to DVAC, while the market guideline value was cited as Rs 3,000 per sq.ft, five allottees got the land for just price Rs 150 per sq.ft, while two others got it at Rs 755 per sq.ft. Plot size varied from 2,400 sq.ft to 6,800 sq.ft. Interestingly, one of the buyers had sold the 6,800-sq.ft land he purchased at a rate of Rs 755 per sq.ft from the society to a private firm at a rate of Rs 3,500 per sq.ft within six months, thus pocketing a lavish sum of Rs 1.87 crore as profit.
According to DVAC, while the market guideline value was cited as Rs 3,000 per sq.ft, five allottees got the land for just price Rs 150 per sq.ft, while two others got it at Rs 755 per sq.ft. Plot size varied from 2,400 sq.ft to 6,800 sq.ft. Interestingly, one of the buyers had sold the 6,800-sq.ft land he purchased at a rate of Rs 755 per sq.ft from the society to a private firm at a rate of Rs 3,500 per sq.ft within six months, thus pocketing a lavish sum of Rs 1.87 crore as profit.