I always had an impression that land grabbing and wrongful transfer of properties without the actual owner being aware of this happens to individual buyers or sellers in the Indian market. But it has started impacting developers as well. Recently I cam across two legal notices/advertisements in leading newspapers given by Wellwin Industry against Chitra Anandan Constructions for a property in Perungudi and the other one by Ozone developers. There were advertisements by both the buyers and sellers in both the cases on back to back days.
Wellwin Industry - Chitra Anandan Constructions:
In this case, a subsidary company of Wellwin Industry was sold lock, stock and barrel to Chitra Anandan Constructions as per the advertisement of Chitra Anandan constructions. The subsidary company is the legal owner of the land and Chitra Anandan constructions is building a residential complex in this land. Wellwin Industry has refuted the claim of Chitra Anandan Construction saying that the land still remains with them.
Ozone Developers case:
Ozone developers contends that they have legally bought the land from the owners and they are in rightful possession. The land in question I guess is a hereditary land running into few centuries!! When I checked their website, they have a project coming up in Anna Nagar, Chennai and I am not sure if this pertains to their Anna Nagar project or any other land they have bought.
The buyers go to this organised players primarily to avoid legal issues in ownership. And now we are hearing about legal disputes even on lands/properties developed by reputed builders. I was recently told that even Ceebros Shyamala Gardens project ( being built on Shyamala studio land) at Saligramam has some legal issues. It is really vexing for individual buyers if they have to face these legal issues even after paying hefty premiums. Now buying a house without any legal issues boils down to your luck!!