This appears to have been done with an intention to get the loan account become stressed for justifying sale of the charged property at 40, Amrita Shergill Marg, by Avantha Realty to Shri Rana Kapoor in the name of BAPL.”, The Indian Express is now on Telegram. There are also a few independent bungalows which at today’s value command anything between Rs 80 crore to Rs 100 crore, as per property consultants active in the area. Indiabulls Housing Finance: Investigation In Rana Kapoor Loan On 40 Amrita Shergill Marg. Reports said that when the industrialist decided to settle the dues with the bank by expressing his willingness to sell the property, Kapoor’s wife launched a shell company called Bliss Abode in 2017. Amrita Shergill Marg, Sujan Singh Park, New Delhi, New Delhi Locality Map. There are close to about 50 houses in this area all of which are marquee plots. The central agency has traced documents related to these assets and properties and is currently verifying them, sources said. This site is an online resource for Amrita Sher-Gil’s biography, artwork, paintings, articles, awards, videos and books. The CBI has registered a case of corruption and criminal conspiracy against Rana Kapoor and his wife Bindu among others over this. Register now! Samudra Mahal — the nearly five-decade-old luxurious, sea-facing residential complex in Mumbai's posh Worli area is back in the news due to now-infamous resident Yes Bank Founder Rana Kapoor. The bank invited bids but eventually sold the bungalow to Bliss Abode for Rs 380 crore. Bliss Abode claimed a net loss of Rs 1.01 crore on revenues of Rs 1.05 crore in the financial year 2019. Most real estate projects in the vicinity command Rs 85,000 to Rs 90,000 per sq ft. Bindu Kapoor bought a luxurious bungalow at 40, Amrita Shergill Marg in the name of her company It is learnt that all the properties are linked to Kapoor's wife Bindu Kapoor, who is also under the scanner. Join an expert panel for a webinar on Smart investments for a secure retirement January 28, 2021. May 30, 2020 - This Pin was discovered by Aditya Puri. The built-up area of the bungalow is 8,800 sq ft. "Most of these bungalows are located in Lutyens zone where no alterations or extensions are permissible. CBI suspects that the discounted transaction for the 1.2 acre-bungalow on Amrita Shergill Marg was a gratification to Kapoor through the company Bliss Abode Pvt … 12 Nov, 2012, 06.40 AM IST. The three-acre complex has about 100-odd apartments and two bungalows. The bungalow is currently valued at over Rs 600 crore. Assets worth about ₹3,000 crore, linked … It is learnt that all the properties are linked to Kapoor's wife Bindu Kapoor, who is also under the scanner. Bliss Abode’s registered office is situated on 40 Amrita Shergill Marg, the very road on which the property the ED is probing is located. Indiabulls went on to finance the rest of the loan as well for the purchase of the property. Bindu Kapoor bought a luxurious bunglow at 40, Amrita Shergill Marg — a prime location in Lutyens’ Delhi — in the name of her company Bliss Abode Ltd while the other two properties belong to Bliss Villa (Delhi) Private Ltd. FEATURED FUNDS ★★★★★ Axis Long Term Equity Direct Plan-Growth. The total built-up area of the bungalow is around 12,500 sq ft and the size of the plot is 6,000 square yards. According to the CBI FIR accessed by Republic TV, the original owner of 40 Amrita Shergill Marg received much less than the market value. Real estate brokers active in the area say that the bungalow is up for sale again and may command a price between Rs 425 crore to 450 crore. Price also depends on how motivated the seller is," says a broker. Price - On call That’s because a 3BHK in Samudra Mahal competes with stock available in other high-density luxury projects, Mehta says, adding that while 70-80 families reside in these 100-odd apartments, there are more than 160 units in other complexes. Explained | Sensex hits 50k milestone: Here is what led to the rally, Ideas For Profit | Hamara Bajaj: Strong export demand of two-wheelers, long-term positive outlook. Has the project been adversely affected by the slowdown in the real estate market? Another property located on a one-acre plot on this stretch is going for Rs 500 crore. Agencies. Value Research. Price: Rs 75,000/SQ FT The Rich Residents > Sunil Mittal, Chairman, Bharti Enterprises > Shravan Gupta MD, Emaar MGF Land > Kabul Chawla, CMD BPTP. May 30, 2020 - This Pin was discovered by Aditya Puri. As a classic case of this modus operandi, ED sources cited the purchase of a palatial bungalow owned by Avantha Group of companies at 40, Amrita Shergill Marg, address in Lutyens Delhi. The CBI says the lease putting the annual rent at Rs 65 crore was a sham, pointing out that the earlier tenant, Ballarpur Industries Ltd itself, paid only Rs 1.02 crore annually. One of Avantha’s group companies, Avantha Realty, owned the Amrita Shergill property, then valued at Rs 550 crore, and had mortgaged it to ICICI Bank for a loan. As for present market conditions, while the sales may be slow, they are on. Also Read | RBI puts Yes Bank under moratorium, withdrawal limit capped at Rs 50,000. A bungalow at 40-Amrita Shergill Marg in Lutyens’ Delhi, having market value of ₹685 crore, has also been attached. "If it took three to six months to close a deal in this area a few years ago, it takes one-and-a-half to two years now. "It is on a one-acre plot of which only half-acre is available for sale. In due course, the loan became stressed and Yes Bank asked Avantha to sell the property to recover it. Bindu Kapoor bought a luxurious bungalow at 40, Amrita Shergill Marg - a prime location in Lutyens` Delhi - in the name of her company Bliss Abode Ltd while the other two properties belong to Bliss Villa (Delhi) Private Ltd. Amrita Sher-Gil was born on 30 January 1913 in Budapest, Hungary, to Umrao Singh Sher-Gil Majithia, a Jat sikh aristocrat and a scholar in Sanskrit and Persian, and Marie Antoniette Gottesmann, a Hungarian-Jewish opera singer who came from an affluent bourgeois family. Most of these colonies – Amrita Shergill Marg, Prithvi Raj Road and Golf Links are inhabited by the fifth generation as most of the houses here are as old as 1930. "There could be 80-odd families residing in these 100 apartments," says Mehta. "On average, the rental yield is about 3 percent. 11.97 % Invest Now. The source said that Kapoor's wife had bought 40 Amrita Shergill Marg property in the name of her company Bliss Abode Ltd on account of a loan default by Avantha Realty. CBI suspects that the discounted transaction for the 1.2 acre-bungalow on Amrita Shergill Marg was a gratification to Kapoor through the company Bliss Abode Pvt … Home to Mumbai's rich, the complex was earlier in the limelight as shamed diamantaire Nirav Modi's residence. For all the latest India News, download Indian Express App. It was to repay this loan that Avantha borrowed Rs 400 crore from Yes Bank in March 2016. Price: … The source said that Kapoor's wife had bought 40 Amrita Shergill Marg property in the name of her company Bliss Abode Ltd on account of a loan default by Avantha Realty. 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