5 Multi-Crore Real Estate Scams in India

1) Adarsh Housing Society scam

Adarsh Housing Society Scam is the biggest housing scams of Mumbai, the financial capital of India. It is one of the multi-crore housing scam in India. This housing scam started way back in the year 2002 when a request for the construction of housing complex was put forward to the Chief Minister of Maharashtra. The request was to allot land for housing complex for “the welfare of serving and retired personnel of the Defence Services," in the city of Mumbai.  Surprisingly, over the period of ten years, top politicians, bureaucrats and military officials have come under the scanner for violating several norms including land-use rules and environmental laws and misusing the houses originally built for martyrs' widows and Kargil heroes. In fact, these aforementioned figures have pounced on flats in this property at low prices, which is located in South Mumbai’s Colaba area in prime defence land.

"The episode of Adarsh Co-operative Housing Society reveals how a group of select officials, placed in key posts, could subvert rules and regulations in order to grab prime government land- a public property- for personal benefit,” according to the report of the Comptroller and Auditor General of India to the President of India in 2011.