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GARUDA MALL RTI Expose by Veersh Bellur – Promoters claim all’s well; Jairaj orders review

Posted by rtiact2005 on August 5, 2006

GARUDA MALL
Promoters claim all’s well; Jairaj orders review
 
DH News Service Bangalore:
The promoters of Garuda Mall (Maverick Holdings and Investments Pvt Ltd.), on Saturday, refuted allegations of irregularities in the project.
 

The promoters of Garuda Mall (Maverick Holdings and Investments Pvt Ltd.), on Saturday, refuted allegations of irregularities in the project. However, the Bangalore Mahanagara Palike (BMP), the partner in the joint venture (JV) is still to clear the cloud over the controversies surrounding the project.

During a press conference, the Garuda Mall promoters said, “We are open to an audit by Infrastructure Development Corporation (Karnataka) Ltd. Garuda Mall is a successful model of public-private partnership and is fetching BMP a revenue of Rs 4 crore (management contract) per annum,” said Mr B G Uday, director of the group. Referring to allegations of stamp duty evasion and building violations, Mr Uday said, “Additional floors — a basement, ground floor, plus nine floors and terrace, have the council’s approval. Clause 24.1 of the JV agreement entitles us for stamp duty exemption. However, we will pay up if the government decides so.”

“The district magistrate has issued permission for the multiplex. We have sought BMP’s permission for the modified plan — roofed parking for two-wheelers and sewage treatment plant on the excess land. The ‘realignment’ of stormwater drain and the public parking has been provided as per the agreement,” claimed Mr Uday, admitting that the project had deviation of 3.58 per cent.

“Deviation of five per cent is allowed. We are yet to apply for final occupancy certificate and we will limit floor area ratio to 3.65 lakh sq ft,” justified Mr Uday.

Review

Meanwhile, BMP Commissioner K Jairaj has ordered a comprehensive review of the JV, by an internal group of legal experts and chief engineers. “The team will examine the contract terms and conditions, obligations of both parties. The report is to be submitted on August 12. I will verify the facts based on the report and the reply given by promoters. Any action, if necessary, will follow in accordance with law,” asserted Mr Jairaj.

  
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