Property prices in 8 prime residential markets spike in one year
The property prices in India’s eight prime residential markets firmed up further in the past one year amid a spike in the cost of construction, a recent data said.
The Special Task Force (STF) of Odisha police have issued orders to seize properties worth around Rs 3 crore, belonging to a drug peddler involved in ganja opium smuggling case, under the provisions of Narcotics Drugs and Psychotropic Substances Act.
Under the provision of chapter VA of NDPS Act (Section A- Z) there is a provision of seizing and forfeiture of ill-gotten property (illegally acquired property from Narcotics business in the last six years), the STF said in a statement on Monday.
“During investigation of STF P.S. Case No 10/2022 U/S. 18(c)/20(b)(ii)(C)/29 NDPS Act 1985, properties worth of more than Rs 3 crores, acquired by accused persons Banmali Pradhan of Raghunathsahi under Buguda police station jurisdiction of Ganjam district out of illegal contraband ganja & opium business have been identified and seized”, the STF said in a statement.
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The banned substances like ganja (106 kg) and opium (517 grams) and other incriminating materials were seized from the exclusive possession Pradhan on 29 April this year.
The seized properties include five commercial buildings situated at Buguda, 8 landed properties, bank balance in 19 Accounts of different banks, two vehicle and gold & silver ornaments weighing 595 grams and 190 grams respectively. The buildings have been evaluated by the Public Works Department, Roads & Buildings, Buguda, it said.
A detailed proposal for confirmation of seizure/forfeiture of the properties earned out of contraband drugs business was sent to the office of Competent Authority, Kolkata, who is a quasi-judicial authority under NDPS Act & has been requested for forfeiture of the illegally acquired property as per provision of Sec. 68 (F) NDPS Act, 1985, it concluded.
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