Real estate is no stranger to controversy, and the latest controversy involves a family-owned business that recently sold its flagship Delhi house.
On August 12, the family-run real estate firm, MHA, sold its landmark, 13,000 square foot house at Bishan Garden, located on the grounds of the National Capital Region (NCR).
It was purchased for $13.8 million by a private investor for Rs 10 crore.
However, the seller did not disclose the name of the buyer, and it has been alleged that MHA did not receive any funds.
“We have not received any funds for the purchase.
The buyer did not provide the required documents for the transaction, and no payment of the necessary funds was made to the seller, MCA said in a statement to the Times of India.
MHA is not the owner of the house, and is not its agent.
The house was not purchased with the consent of the owner.
The owner of this property has been contacted by the authorities and will cooperate with the investigation,” the firm said.
On September 1, the property was listed on the website of the NCR-based real estate portal, Real Estate Market.
The listing has since been removed, but it remains available on the portal.
According to MHA’s statement, the owner has been approached by the NCRB (NCRB) and is expected to provide the relevant documents to them.
The NCRB has already informed the authorities about the sale and will conduct a thorough investigation, MFA said in its statement.
The real estate giant has been dealing in luxury apartments in the NCRs for the last decade.
In the last two years, the company has sold its four luxury apartments to private buyers, including one who bought the property from the family for a whopping Rs 2 crore.