Sunday, August 30, 2009


The well-known Hirnandani group’s fraudulent way of wealth creation was exposed by Mumbai Mirror in its lead article on 23-08-09. Having obtained the land from the poor farmers/government at concessional rate under the Powai Area Development Scheme, the group instead of building the affordable housing complex as agreed built sprawling high end housing complex in violation of agreed terms. The MMRDA which probed the irregularities had imposed a penalty of Rs 1993 crores, taking into the prevailing market price. The Maharastra government instead of recovering the penalty in full, has taken a decision to reduce the penalty on builder from the above amount to Rs 218 crore thus helping the builder to save Rs 1777 crore. The state government needs to explain to the public why so much concession was accorded to the wealthiest of the wealthiest. The government should collect the penalty in full and utilize the amount for various welfare programmes particularly those who lost the land in and around erstwhile Powai village

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