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.
A corrupt chief construction engineer in Odisha bought as many as 85 landed properties whose market valuation will run to crores of rupees, said an official of anti-corruption police wing on Friday.
The vigilance sleuths carried out searches at seven locations in Balasore district in connection with allegations of disproportionate assets against Pravas Kumar Pradhan, Superintending Engineer (SE) of Irrigation, Balasore Division.
We were literally stunned to stumble upon the wealth, richness of the engineer, who amassed movable and immovable assets worth crores of rupees. His greed for landed property has been laid bare as it is found that Pradhan owned 85 plots including one from West Bengal, revealed the official.
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The plots were purchased by Pradhan in different years in his name as well as in the name of his family members. The total registered sale deed value comes to over Rs. 2 crores.
However, the actual value is likely to be higher, which is being verified, he added.
Pradhan and his family members also illegally acquired high-rise buildings and other valuables
The measurement and valuation, assessment of the buildings, and plots are being carried out by the Vigilance Technical Wing, concluded the official.
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