5 Multi-Crore Real Estate Scams in India

4) Cooperative group housing scheme Scam

In the Rangmahal cooperative group housing scheme (CGHS) scam of 4000 crore, 11 people were reported to be allegedly involved in the corruption scam that included seven public servants.  The public servants who were found to be convicted include ex-Registrar Cooperative Societies Narayan Diwakar-the key player of this scam, Jt Registrar Jasbeer Singh, Assistant Registrar (Audit) Jitender Sharma, Assistant Registrar Ramesh Chandra, Dealing Assistant Rakesh Kumar and Inspector RCS Faiz Mohd and one P K Thirvani. Also, these people were declared guilty of criminal conspiracy under the Indian Penal Code, cheating, forgery and for under the Prevention of Corruption Act, reports PTI.

 The Cooperative group housing scheme Scam started when the plot was fraudulently allotted by the convicts for Rangmahal CGHS in Pitampura area of North West Delhi.

According to CBI, people who are involved in CGHS case, "on the basis of forged and false documents" and "also successfully misrepresented the DDA and induced it to allot huge land on subsidised rates to the society" reports Indian Express.