Panchshil Realty and DB Realty inseperable partners: Investigations

After conducting investigations and file inspections under the Right to Information Act, 2005, DNA reported on the controversial real estate development by Panchshil Realty and DB Realty on 19 acres and 21 gunthas  at Survey No. 191 (A), Yerawada, Pune. (See Pawar’s DB link in Pune, DNA, April 15).

Documents filed by the two companies with the Pune Municipal Corporation (PMC) revealed that Panchshil Tech Park One IT project and the five-star hotel project by DB Realty (Hillside Construction Company Pvt Ltd) did not have separate Hissa numbers for the land owned by the two separate companies. Renowned town planners in Pune told DNA that when two properties are developed on the same survey number without a separate Hissa number, it may be interpreted that “the properties were developed with mutual consent or in partnership”.

Panchshil Tech Park One’s managing director, Atul Chordia, said DB Realty and Panchshil had the same survey number, but Panchshil had a separate City Survey Number (2175). He said this was sufficient to prove that Panchshil was in no way connected with DB Realty.

The DB Realty construction on that plot was facilitated by the Maharashtra government, which lifted public interest reservations for a hospital, school and a playground. The two companies purchased the land from the Shree Mukund Bhawan Trust, which secured it in controversial circumstances.