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'''Raheja Developers Limited''', (RDL), formerly '''Raheja Developers Private Limited''', is an Indian [[real estate]] development company headquartered in [[New Delhi]], [[India]]. RDL has been associated with several government and private projects in the past. The company and its associates are developing high end residential, commercial and SEZ projects worth rupees 30 billion and have tied up projects worth rupees 70 billion for the current fiscal year. RDL has been subject to investigations and legal challenges on several occasions in the past.
'''Raheja Developers Limited''', (RDL), formerly Raheja Developers Private Limited, is an Indian [[real estate]] development company with its headquarters in [[Delhi]], [[India]]. RDL was incorporated by Navin M Raheja in 1990. The company has been subject to investigations and legal challenges on several occasions.


== History ==
== History ==
Raheja Developers Limited was incorporated by Navin Raheja in 1990.<ref>{{cite web|title=Business Week: Raheja Developers Ltd|url=http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=42411522|publisher=Business Week|accessdate=26 November 2014}}</ref>
Raheja Developers Limited was incorporated by Navin Raheja in 1990.<ref>{{cite web|title=Business Week: Raheja Developers Ltd|url=http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=42411522|publisher=Business Week|accessdate=26 November 2014}}</ref>


In 2008, Raheja Developers planned to build a Special Enterprise Zone (SEZ) in [[Gurgaon]] at an estimated cost of {{INRConvert|4500|c}}. The development was to be on a {{convert|255|acre|ha|adj=on}} site<ref>{{cite news|title=Raheja to invest Rs 4,500 cr to develop engg SEZ in Gurgaon|url=http://articles.economictimes.indiatimes.com/2008-08-20/news/28434188_1_raheja-sezs-land-owners-special-economic-zone|accessdate=14 March 2015|agency=Press Trust of India|date=20 August 2008|location=New Delhi}}</ref> but the project did not advance. In a Gazette Notification of the Government of India on 29 January 2014 the Raheja SEZ was denotified, and the whole SEZ project scrapped.<ref>{{cite web|title=Raheja Denotification|url=http://www.sezindia.nic.in/writereaddata/notifications/Raheja%20denotificaiton%20full.pdf|website=SEZindia.nic.in|publisher=Govt of India|accessdate=3 January 2016}}</ref> The factors responsible for failure of SEZ projects across India are quoted as withdrawal of tax incentives such as minimum alternate tax (MAT) and [[dividend distribution tax]] (DDT).<ref>{{cite news | url=http://wap.business-standard.com/article/economy-policy/sezs-hobbled-by-taxes-infrastructure-114120300440_1.html | title=Why SEZs in India have failed | work=Business Standard | date=4 November 2014 | accessdate=12 January 2016 | author=Bakshi, Ishan}}</ref>
In 2008, Raheja Developers planned to build a Special Enterprise Zone (SEZ) in [[Gurgaon]] at an estimated cost of {{INRConvert|4500|c}}. The development was to be on a {{convert|255|acre|ha|adj=on}} site<ref>{{cite news|title=Raheja to invest Rs 4,500 cr to develop engg SEZ in Gurgaon|url=http://articles.economictimes.indiatimes.com/2008-08-20/news/28434188_1_raheja-sezs-land-owners-special-economic-zone|accessdate=14 March 2015|agency=Press Trust of India|date=20 August 2008|location=New Delhi}}</ref> but the project did not advance. In a Gazette Notification of the Government of India on 29 January 2014 the Raheja SEZ was denotified, and the whole SEZ project scrapped.<ref>{{cite web|title=Raheja Denotification|url=http://www.sezindia.nic.in/writereaddata/notifications/Raheja%20denotificaiton%20full.pdf|website=SEZindia.nic.in|publisher=Govt of India|accessdate=3 January 2016}}</ref>

In 2015, the company tied up with online property portal BookMyHouse.com.<ref>{{cite news | url=http://realty.economictimes.indiatimes.com/news/residential/raheja-developers-ties-up-with-bookmyhouse-com-books-500-apartments-online/48373844 | title=Raheja Developers ties up with BookMyHouse.com, books 500 apartments online | work=ETRealty.com | date=6 August 2015 | agency=ETRealty | accessdate=15 December 2015 | location=New Delhi}}</ref>


== Development partners ==
== Development partners ==
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In 2014, Raheja and eight other builders began a collaboration with [[Haryana Urban Development Authority]] for the construction of affordable housing in [[Sohna]] region of [[Gurgaon]], under the "Housing for all by 2022" policy of the [[Government of India]].<ref>{{cite web|url=http://tcpharyana.gov.in/LC%20DETAILS/GUR%20AHP.htm|website=Town & Country Planning, Haryana|title=List of Affordable Housing Licences in Haryana|accessdate=13 February 2015}}</ref><ref>{{Cite news |url=http://indianexpress.com/article/india/india-others/affordable-segment-moves-into-focus-as-others/ |title=Affordable segment moves into focus as others |publisher= Indian Express |deadurl=no |accessdate=3 January 2015}}</ref> In October 2015, Raheja slashed the rates offered under the project by about 30-35 percent lower than the existing ones in the location citing sluggish sales.<ref>{{cite news | url=http://economictimes.indiatimes.com/wealth/news/raheja-cuts-price-for-housing-project-in-sohna-to-rs-2500/sq-ft/articleshow/49584699.cms | title=Raheja cuts price for housing project in Sohna to Rs 2500/sq ft | work=The Economic Times | date=29 October 2015 | agency=PTI | accessdate=15 December 2015 | location=New Delhi}}</ref>
In 2014, Raheja and eight other builders began a collaboration with [[Haryana Urban Development Authority]] for the construction of affordable housing in [[Sohna]] region of [[Gurgaon]], under the "Housing for all by 2022" policy of the [[Government of India]].<ref>{{cite web|url=http://tcpharyana.gov.in/LC%20DETAILS/GUR%20AHP.htm|website=Town & Country Planning, Haryana|title=List of Affordable Housing Licences in Haryana|accessdate=13 February 2015}}</ref><ref>{{Cite news |url=http://indianexpress.com/article/india/india-others/affordable-segment-moves-into-focus-as-others/ |title=Affordable segment moves into focus as others |publisher= Indian Express |deadurl=no |accessdate=3 January 2015}}</ref> In October 2015, Raheja slashed the rates offered under the project by about 30-35 percent lower than the existing ones in the location citing sluggish sales.<ref>{{cite news | url=http://economictimes.indiatimes.com/wealth/news/raheja-cuts-price-for-housing-project-in-sohna-to-rs-2500/sq-ft/articleshow/49584699.cms | title=Raheja cuts price for housing project in Sohna to Rs 2500/sq ft | work=The Economic Times | date=29 October 2015 | agency=PTI | accessdate=15 December 2015 | location=New Delhi}}</ref>


==Awards and recognition==
== Awards ==
* [[Euromoney]] real estate polls in the UK - The Best Developer of India (2011, 2012 and 2013)<ref name=indianexpress>{{cite news|title=DIPP circulates Cabinet note on relaxing FDI in housing sector|url=http://archive.indianexpress.com/news/dipp-circulates-cabinet-note-on-relaxing-fdi-in-housing-sector/1172145/|accessdate=6 February 2015|work=[[The Indian Express]]|date=21 September 2013}}</ref>
* [[Euromoney]] real estate polls in the UK - The Best Developer of India (2011, 2012 and 2013)<ref name=indianexpress>{{cite news|title=DIPP circulates Cabinet note on relaxing FDI in housing sector|url=http://archive.indianexpress.com/news/dipp-circulates-cabinet-note-on-relaxing-fdi-in-housing-sector/1172145/|accessdate=6 February 2015|work=[[The Indian Express]]|date=21 September 2013}}</ref>
* Best Project Execution, [[CRISIL|CRISIL Real Estate Awards]] - 2010 for Raheja Mall<ref>{{cite web | url=http://www.crisil.com/about-crisil/crisil-real-estate-awards-winners.html | title=CRISIL's Real Estate Award Winners 2010 | publisher=CRiSiL | accessdate=3 January 2016}}</ref>
* Real Estate Award for Best Residential Property (More than 1 lakh sq feet) - 2008 by CNBC Awaaz-Crisil Real Estate Awards for Raheja Atlantis<ref name="MoneyControl">{{cite web | url=http://www.realestate.moneycontrol.com/winners2008.php | title=Real Estate Awards 2008 | publisher=MoneyControl | accessdate=3 January 2016}}</ref>


== Investigations and legal challenges ==
== Investigations and legal challenges ==
Raheja Developers were named in a sting operation relating to [[Indian black money|corruption]] by investigative portal [[Cobrapost]].<ref>{{cite web|title=Operation Black Ninja|url=http://cobrapost.com/index.php/news-detail?nid=7299&cid=23|publisher=Cobrapost|accessdate=11 December 2014}}</ref> In clarification to ABP News, Raheja Developers were quoted saying "They do not indulge in such malpractises nor do they promote them. In the sting operation's video it is completely clear. Kartik Ramachandran is repeating this again and again in the video. Despite this the reporter was persisting again and again to consider the 50 buyers proposal. On this Kartik Ramachandran said that he may think about this proposal. But he mentioned this clearly that company does not deal in such matters."<ref>{{cite web | url=http://www.sting-pollkhol.in/finance-money/cobraposts-sting-on-black-money-in-property-deals.html/ | title=Cobrapost News Agency Conducted Sting on black money in property deals | publisher=Sting Poll-Khol | work=ABP News | date=1 December 2014 | accessdate=12 January 2016}}</ref> Based on the sting operation by Cobrapost, India's highest tax authority, the [[Taxation in India#Central Board of Direct Taxes|Central Board of Direct Taxes]], has ordered a probe into Raheja Developers, and 34 other developers, caught in the sting operation.<ref>{{cite web|title=Black Money: CBDT orders I-T Probe against select real estate firms|url=http://www.livemint.com/Home-Page/DYeHASvLZQDDovzYg2U6FP/Black-money-CBDT-orders-IT-probe-against-select-real-estat.html|website=www.livemint.com|publisher=Mint|accessdate=11 December 2014}}</ref><ref>{{cite web|title=Cobrapost sting: CBDT orders probe against real estate firms over black money allegations|url=http://www.financialexpress.com/article/economy/blackmoney-cbdt-orders-probe-against-select-real-estate-firms/13999/|publisher=Financial Express|accessdate=11 December 2014}}</ref> Raheja Developers Ltd were also target of a tax raid by Indian Income Tax authorities in February 2010; tax evasion amounting to {{INRConvert|80|c}} was unearthed at that time.<ref>{{cite web|last1=Saini|first1=Manveer|title=Tax evasion worth Rs 80cr unearthed|url=http://timesofindia.indiatimes.com/city/chandigarh/Tax-evasion-worth-Rs-80cr-unearthed/articleshow/5586071.cms|website=Times of India|accessdate=5 January 2015}}</ref>
Raheja Developers were named in a sting operation relating to [[Indian black money|corruption]] by investigative portal [[Cobrapost]].<ref>{{cite web|title=Operation Black Ninja|url=http://cobrapost.com/index.php/news-detail?nid=7299&cid=23|publisher=Cobrapost|accessdate=11 December 2014}}</ref><ref>{{cite web|title=Raheja Developers BUSTED in Sting Operation By Cobrapost Regarding Black Money|url=http://news.qubrex.com/2014/11/27/raheja-developers-busted-in-sting-operation-by-cobrapost-regarding-black-money/|website=Qubrex News|accessdate=18 December 2014}}</ref><ref>{{cite web|title=Black money rampant in realty deals, reveals sting op|url=http://timesofindia.indiatimes.com/india/Black-money-rampant-in-realty-deals-reveals-sting-op/articleshow/45302456.cms|publisher=Times of India|accessdate=11 December 2014}}</ref><ref>{{cite web|title=Cobrapost Stings Realtors|url=http://www.business-standard.com/article/companies/cobrapost-stings-realtors-114112700275_1.html|publisher=Business Standard|accessdate=11 December 2014}}</ref> Based on the sting operation by Cobrapost, India's highest tax authority, the [[Taxation in India#Central Board of Direct Taxes|Central Board of Direct Taxes]], has ordered a probe into Raheja Developers, and 34 other developers, caught in the sting operation.<ref>{{cite web|title=Black Money: CBDT orders I-T Probe against select real estate firms|url=http://www.livemint.com/Home-Page/DYeHASvLZQDDovzYg2U6FP/Black-money-CBDT-orders-IT-probe-against-select-real-estat.html|website=www.livemint.com|publisher=Mint|accessdate=11 December 2014}}</ref><ref>{{cite web|title=Cobrapost sting: CBDT orders probe against real estate firms over black money allegations|url=http://www.financialexpress.com/article/economy/blackmoney-cbdt-orders-probe-against-select-real-estate-firms/13999/|publisher=Financial Express|accessdate=11 December 2014}}</ref> Raheja Developers Ltd were also target of a tax raid by Indian Income Tax authorities in February 2010; tax evasion amounting to {{INRConvert|80|c}} was unearthed at that time.<ref>{{cite web|last1=Saini|first1=Manveer|title=Tax evasion worth Rs 80cr unearthed|url=http://timesofindia.indiatimes.com/city/chandigarh/Tax-evasion-worth-Rs-80cr-unearthed/articleshow/5586071.cms|website=Times of India|accessdate=5 January 2015}}</ref>


In 2009 Raheja won a contract from [[Delhi Development Authority]] (DDA) by bidding<ref>{{cite web | url=http://www.cprindia.org/sites/default/files/working_papers/The%20Case%20of%20Kathputli%20Colony_CPRWorkingPaper%20(2)_1.pdf | title=The Case of Kathputli Colony: Mapping Delhi's First In-situ Slum Rehabilitation Project | publisher=Centre for Policy Research, India | work=CPR India | date=June 2013 | accessdate=13 January 2016 | author=Banda, Subhadra; Vaidya, Yashas; Adler, David}}</ref> to improve the slums at [[Kathputli Colony]] in [[Shadipur]], where the company would build 2,800 flats for the poor people of the area and in return receive 10 per cent of the land for commercial use.<ref>{{cite web | url= http://archive.indianexpress.com/news/dda-s-slum-makeover-plan-takes-off-with-kathputli-colony/525878 | title= DDA’s slum makeover plan takes off with Kathputli Colony | publisher= Mandakini Gahlot indianexpress.com |accessdate=7 October 2009}}</ref> However the project could not be started due to the refusal of slum-dwellers to move out to allow in-situ re-development.<ref name="TNN">{{cite news | url=http://timesofindia.indiatimes.com/city/delhi/Consensus-clause-for-slum-projects/articleshow/46510256.cms | title=Consensus clause for slum projects | work=The Times of India | date=10 March 2015 | agency=TNN | accessdate=15 December 2015 | location=New Delhi}}</ref> This policy failure was acknowledged by the DDA.<ref name="TNN" /> In March 2014, Delhi High Court denied the petition of local residents against the eviction and relocation to the transit camp.<ref>{{cite news | url=https://www.highbeam.com/doc/1P3-3251796891.html | title=Shift to Transit Camp or Face Action, HC Tells Kathputli Colony Protesters | work=Hindustan Times | date=21 March 2014 | agency=Hindustan Times | accessdate=13 January 2016 | location=New Delhi}}</ref> Till May 2014, 250 families had already shifted to the transit camp located in Anand Parbat.<ref>{{cite news | url=https://www.highbeam.com/doc/1P3-3316113131.html | title=More Families Shift from Kathputli Colony | work=Hindustan Times | date=28 May 2014 | agency=Hindustan Times | accessdate=13 January 2016 | location=New Delhi}}</ref> Raheja Developers were the focus of criticism in 2014 after an election candidate of the [[Aam Aadmi Party]] (AAP) alleged that the contract was a scam created by the DDA and the company.<ref>{{cite web|title=AAP's Police complaint on Kathputli Colony scam|url=http://www.aamaadmiparty.org/aaps-police-complaint-on-kathputli-colony-scam|accessdate=20 November 2014}}</ref> Out of the 5.22 hectares i.e., 52,000 sq m of land, 60 per cent (31,200 sq m) was marked for the rehabilitation of the colony, and the rest 40 per cent of land (20,800 sq m) was given to Raheja Developers.<ref>{{cite web|last1=Tauhid|first1=Sadafut|title=Kathputli Colony: The Illusion of Rehabilitation|url=http://www.ritimo.org/article5470.html|publisher=Ritimo|accessdate=23 January 2015}}</ref> AAP further alleged that the contract was a way to give the company prime real estate at a low cost under the guise of assisting the slum dwellers, who state that they were forcibly evicted from their homes.<ref>{{cite web|last1=ALI|first1=MOHAMMAD|title=‘DDA granted undue benefits to Kathputli Colony redeveloper’|url=http://www.thehindu.com/news/cities/Delhi/dda-granted-undue-benefits-to-kathputli-colony-redeveloper/article5836547.ece|accessdate=20 November 2014}}</ref><ref>{{cite web|title=Delhi: Kathputli Colony facing threats of evictions and police action|url=http://sanhati.com/articles/11665/|accessdate=20 November 2014}}</ref>
In 2009 Raheja won a contract from [[Delhi Development Authority]] (DDA) to improve the slums at [[Kathputli Colony]] in [[Shadipur]], where the company would build 2,800 flats for the poor people of the area and in return receive 10 per cent of the land for commercial use.<ref>{{cite web | url= http://archive.indianexpress.com/news/dda-s-slum-makeover-plan-takes-off-with-kathputli-colony/525878 | title= DDA’s slum makeover plan takes off with Kathputli Colony | publisher= Mandakini Gahlot indianexpress.com |accessdate=7 October 2009}}</ref> However the project could not be started due to the refusal of slum-dwellers to move out to allow in-situ re-development.<ref name="TNN">{{cite news | url=http://timesofindia.indiatimes.com/city/delhi/Consensus-clause-for-slum-projects/articleshow/46510256.cms | title=Consensus clause for slum projects | work=The Times of India | date=10 March 2015 | agency=TNN | accessdate=15 December 2015 | location=New Delhi}}</ref> This policy failure was acknowledged by the DDA.<ref name="TNN" /> Raheja Developers were the focus of criticism in 2014 after an election candidate of the [[Aam Aadmi Party]] (AAP) alleged that the contract was a scam created by the DDA and the company.<ref>{{cite web|title=AAP's Police complaint on Kathputli Colony scam|url=http://www.aamaadmiparty.org/aaps-police-complaint-on-kathputli-colony-scam|accessdate=20 November 2014}}</ref> Out of the 5.22 hectares i.e., 52,000 sq m of land, 60 per cent (31,200 sq m) was marked for the rehabilitation of the colony, and the rest 40 per cent of land (20,800 sq m) was given to Raheja Developers.<ref>{{cite web|last1=Tauhid|first1=Sadafut|title=Kathputli Colony: The Illusion of Rehabilitation|url=http://www.ritimo.org/article5470.html|publisher=Ritimo|accessdate=23 January 2015}}</ref> AAP further alleged that the contract was a way to give the company prime real estate at a low cost under the guise of assisting the slum dwellers, who state that they were forcibly evicted from their homes.<ref>{{cite web|last1=ALI|first1=MOHAMMAD|title=‘DDA granted undue benefits to Kathputli Colony redeveloper’|url=http://www.thehindu.com/news/cities/Delhi/dda-granted-undue-benefits-to-kathputli-colony-redeveloper/article5836547.ece|accessdate=20 November 2014}}</ref><ref>{{cite web|title=Delhi: Kathputli Colony facing threats of evictions and police action|url=http://sanhati.com/articles/11665/|accessdate=20 November 2014}}</ref>


In 2014, the Prime Minister of India's Office ordered a probe relating to alleged irregularities in a [[Gurgaon]] housing project named Raheja Atharva.<ref name="Forbes">{{cite web | first1=Shabana | last1=Hussain | url=http://forbesindia.com/article/special/pmo-asks-haryana-to-probe-complaints-against-raheja-developers/39249/1 | title=PMO asks Haryana to probe complaints against Raheja Developers | publisher=Forbes India Magazine | accessdate=19 December 2014}}</ref> Forty three buyers of properties in the project Atharva filed a lawsuit against Raheja Developers with the [[National Consumer Disputes Redressal Commission]] (NCDRC) citing a three-year delay in the project and not providing for water and electricity facilities. In response, Raheja Developers were quoted blaming [[Haryana Urban Development Authority]] (HUDA) for the delay over construction of infrastructure like road connectivity, water and sewerage.<ref name="Forbes" /> On 16 December 2015, on basis of complaint by the Atharva Owners Welfare Association ''(Regd.)'', an inspection was carried out by the State Level Expert Appraisal Committee, and 0.8 acres of the Atharva project was sealed as it was illegally constructed without any Environmental Clearances.<ref>{{cite web|title=SEAC Seals Site of Raheja Builder|url=http://epaper.amarujala.com/gr/20151218/06.html?format=html|website=Amar Ujala|publisher=Amar Ujala Newspaper|accessdate=3 January 2016}}</ref> Further, the news report states that instead of 520 apartments for which permission had been obtained, around 700 apartments had been constructed without obtaining the Environmental Clearance. And, instead of the 30% green spaces according to the approved plan, the builder had left only around 15% green spaces.
In 2014, the Prime Minister of India's Office ordered a probe relating to alleged irregularities in a [[Gurgaon]] housing project named Raheja Atharva.<ref name="Forbes">{{cite web | first1=Shabana | last1=Hussain | url=http://forbesindia.com/article/special/pmo-asks-haryana-to-probe-complaints-against-raheja-developers/39249/1 | title=PMO asks Haryana to probe complaints against Raheja Developers | publisher=Forbes India Magazine | accessdate=19 December 2014}}</ref> Raheja Developers were quoted as blaming [[Haryana Urban Development Authority]] (HUDA) for the delay over construction of infrastructure like road connectivity, water and sewerage. On 16 December 2015, on basis of complaint by the Atharva Owners Welfare Association ''(Regd.)'', an inspection was carried out by Mr GR Goyat, Chariman of the State Level Expert Appraisal Committee,<ref>{{cite web|title=Gazette of India|url=http://envfor.nic.in/sites/default/files/Notification%20Haryana%20(1)(1).pdf|website=Ministry of Environment, Forest and Climate Change|accessdate=3 January 2016}}</ref> and 0.8 acres of the Atharva project was sealed as it was illegally constructed without any Environmental Clearances.<ref>{{cite web|title=SEAC Seals Site of Raheja Builder|url=http://epaper.amarujala.com/gr/20151218/06.html?format=html|website=Amar Ujala|publisher=Amar Ujala Newspaper|accessdate=3 January 2016}}</ref> Further, the news report states that instead of 520 apartments for which permission had been obtained, around 700 apartments had been constructed without obtaining the Environmental Clearance. And, instead of the 30% green spaces according to the approved plan, the builder had left only around 15% green spaces.


On 15 June 2015 an investigation was ordered into the Raheja residential project Shilas (name of some towers in the Raheja Atharva complex) by the Haryana Urban Development Authority, after an inspection revealed that the fire safety systems in the 700-apartment complex were non-functional.<ref>{{cite web|title=Shilas Project Main Khameian Milne Per Raheja Builders Ko Notice|url=http://epaper.bhaskar.com/detail/?id=581720&boxid=61805633890&ch=cph&map=map&currentTab=tabs-1&pagedate=06/18/2015&editioncode=107&pageno=3&view=image|website=Dainik Bhaskar - Daily Newspaper|accessdate=19 June 2015}}</ref> In January 2016, 35 buyers, who complained about deficiencies in basic amenities and infrastructure withdrew their complaint as Raheja Developers agreed to their demands.<ref>{{cite news | url=http://paper.hindustantimes.com/epaper/viewer.aspx?noredirect=true | title=Builders, buyers show up in large numbers to resolve realty disputes | work=Hindustan Times | date=11 January 2016 | agency=Hindustan Times | accessdate=12 January 2016 | location=Gurgaon}}</ref>
On 15 June 2015 an investigation was ordered into the Raheja residential project Shilas (name of some towers in the Raheja Atharva complex) by the Haryana Urban Development Authority, after an inspection revealed that the fire safety systems in the 700-apartment complex were non-functional.<ref>{{cite web|title=Shilas Project Main Khameian Milne Per Raheja Builders Ko Notice|url=http://epaper.bhaskar.com/detail/?id=581720&boxid=61805633890&ch=cph&map=map&currentTab=tabs-1&pagedate=06/18/2015&editioncode=107&pageno=3&view=image|website=Dainik Bhaskar - Daily Newspaper|accessdate=19 June 2015}}</ref>


Since the first case was filed by 43 buyers of Raheja Atharva on 22 July 2014, an additional 24 cases involving over 750 buyers have been filed by home buyers of Raheja Vedanta, Raheja Navodaya, Raheja Atlantis and additional buyers in Raheja Atharva at the National Consumer Disputes Redressal Commission (NCDRC) as of 3 January 2016, with Raheja being the respondent as shown on the NCDRC website.<ref>{{cite web|title=NCDRC Case Status|url=http://cms.nic.in/ncdrcusersWeb/login.do?method=caseStatus|publisher=National Consumer Disputes Redressal Commission|accessdate=13 February 2015|format=Case Status: NCDRC; From Date 22 July 2014 To Date 3 January 2016; Field - Respondent - Raheja}}</ref>
Forty three buyers of properties in the project Atharva filed a lawsuit against Raheja Developers with the [[National Consumer Disputes Redressal Commission]] (NCDRC). <ref>{{cite web|title=Forty three (43) Raheja Atharva Buyers Sue Raheja Developers (Gurgaon) In National Consumer Commission|url=http://comments.gurgaonscoop.com/2014/11/17/forty-three-43-raheja-atharva-buyers-sue-raheja-developers-gurgaon-in-national-consumer-commission-court-case/|publisher=GurgaonScoop|accessdate=26 December 2014}}</ref> Since the first case was filed by 43 buyers of Raheja Atharva on 22 July 2014, an additional 24 cases involving over 750 buyers have been filed by home buyers of Raheja Vedanta, Raheja Navodaya, Raheja Atlantis and additional buyers in Raheja Atharva at the National Consumer Disputes Redressal Commission (NCDRC) as of 3 January 2016, with Raheja being the respondent as shown on the NCDRC website.<ref>{{cite web|title=NCDRC Case Status|url=http://cms.nic.in/ncdrcusersWeb/login.do?method=caseStatus|publisher=National Consumer Disputes Redressal Commission|accessdate=13 February 2015|format=Case Status: NCDRC; From Date 22 July 2014 To Date 3 January 2016; Field - Respondent - Raheja}}</ref>


On October 07, 2015 a public notice was issued, and published on October 22, 2015 in the Hindustan Times daily newspaper, regarding complaint of Raheja Vedaanta buyers against Raheja Developers Ltd at the National Consumer Disputes Redressal Commission (NCDRC). The notice informed all other buyers, who were not yet part of the Vedaanta case against Raheja Developers to join the 110 buyers who are part of the Case Number 73 of 2015 before NCDRC.<ref>{{cite web|title=Public Notice Regarding Complaint 73 of 2015 by Raheja Vedaanta Buyers at National Consumer Disputes Redressal Commission|url=http://paper.hindustantimes.com/epaper/showlink.aspx?bookmarkid=LSY8XFKISLB7|website=Hindustan Times|accessdate=22 October 2015|ref=See Page 17, top of Column 5}}</ref>
On October 07, 2015 a public notice was issued, and published on October 22, 2015 in the Hindustan Times daily newspaper, regarding complaint of Raheja Vedaanta buyers against Raheja Developers Ltd at the National Consumer Disputes Redressal Commission (NCDRC). The notice informed all other buyers, who were not yet part of the Vedaanta case against Raheja Developers to join the 110 buyers who are part of the Case Number 73 of 2015 before NCDRC. <ref>{{cite web|title=Public Notice Regarding Complaint 73 of 2015 by Raheja Vedaanta Buyers at National Consumer Disputes Redressal Commission|url=http://paper.hindustantimes.com/epaper/showlink.aspx?bookmarkid=LSY8XFKISLB7|website=Hindustan Times|accessdate=22 October 2015|ref=See Page 17, top of Column 5}}</ref>


''Forbes India'' has alleged that Raheja Developers indulged in [[strategic lawsuit against public participation]] to stifle criticism of its business practices.<ref>{{cite web|last1=Hussain|first1=Shabana|title=It’s Builders Vs Buyers in the Indian Real Estate Industry|url=http://forbesindia.com/blog/business-strategy/its-builders-vs-buyers-in-the-indian-real-estate-industry/|website=Forbes India|accessdate=5 January 2015}}</ref>
''Forbes India'' has alleged that Raheja Developers<ref>{{cite web|title=Business Week: Raheja Developers Ltd|url=http://cms.businesswireindia.com/Feeds/bwibusseco/bwirelease45745.asp|publisher=Business Wire India.|accessdate=21 October 2015}}</ref> indulged in [[strategic lawsuit against public participation]] to stifle criticism of its business practices.<ref>{{cite web|last1=Hussain|first1=Shabana|title=It’s Builders Vs Buyers in the Indian Real Estate Industry|url=http://forbesindia.com/blog/business-strategy/its-builders-vs-buyers-in-the-indian-real-estate-industry/|website=Forbes India|accessdate=5 January 2015}}</ref>


== References ==
== References ==

Revision as of 01:06, 13 January 2016







Raheja Developers Limited
FormerlyRaheja Developers Private Limited
Company typePrivate
IndustryReal estate
Founded1990 (1990) in Delhi, India
FounderNavin Raheja
HeadquartersSaket, 
New Delhi
, 
India
Area served
National Capital Region
Key people
Navin Raheja (Chairman and Managing Director) 
Nayan Raheja (Executive Director)
Websitewww.raheja.com


Raheja Developers Limited, (RDL), formerly Raheja Developers Private Limited, is an Indian real estate development company with its headquarters in Delhi, India. RDL was incorporated by Navin M Raheja in 1990. The company has been subject to investigations and legal challenges on several occasions.




History


Raheja Developers Limited was incorporated by Navin Raheja in 1990.[1]

In 2008, Raheja Developers planned to build a Special Enterprise Zone (SEZ) in Gurgaon at an estimated cost of ₹4,500 crore (US$540 million).  The development was to be on a 255-acre (103 ha) site[2]  but the project did not advance. In a Gazette Notification of the Government of India on 29 January 2014 the Raheja SEZ was denotified, and the whole SEZ project scrapped.[3]



Development partners


Raheja Developers works with contractors such as Aedas,[4] Callison, Lessard, Meinhardt,[5][6] WSP, Shapoorji-Pallonji,[7] and L&T.[8] Two of its joint-development projects are in collaboration with Tata Group.[9]

In 2011, Raheja took a 37 per cent stake in a joint venture company called Arabtec Raheja, where the majority partner was Dubai-based Arabtec Construction, the firm which built the world's tallest tower Burj Khalifa in Dubai. The joint venture was formed to build a series of tall towers in India's National Capital Region with an estimated value of ₹204 million (US$2.4 million).[10][11][12][13] There is also another joint venture agreement with ECC.[14]

In 2014, Raheja and eight other builders began a collaboration with Haryana Urban Development Authority for the construction of affordable housing in Sohna region of Gurgaon, under the "Housing for all by 2022" policy of the Government of India.[15][16] In October 2015, Raheja slashed the rates offered under the project by about 30-35 percent lower than the existing ones in the location citing sluggish sales.[17]



Awards


  • Euromoney real estate polls in the UK - The Best Developer of India (2011, 2012 and 2013)[18]


Investigations and legal challenges


Raheja Developers were named in a sting operation relating to corruption by investigative portal Cobrapost.[19][20][21][22] Based on the sting operation by Cobrapost, India's highest tax authority, the  Central Board of Direct Taxes, has ordered a probe into Raheja Developers, and 34 other developers, caught in the sting operation.[23][24] Raheja Developers Ltd were also target of a tax raid by Indian Income Tax authorities in February 2010; tax evasion amounting to ₹80 crore (US$9.6 million) was unearthed at that time.[25]

In 2009 Raheja won a contract from Delhi Development Authority (DDA) to improve the slums at Kathputli Colony in Shadipur, where the company would build 2,800 flats for the poor people of the area and in return receive 10 per cent of the land for commercial use.[26] However the project could not be started due to the refusal of slum-dwellers to move out to allow in-situ re-development.[27] This policy failure was acknowledged by the DDA.[27] Raheja Developers were the focus of criticism in 2014 after an election candidate of the Aam Aadmi Party (AAP) alleged that the contract was a scam created by the DDA and the company.[28] Out of the 5.22 hectares i.e., 52,000 sq m of land, 60 per cent (31,200 sq m) was marked for the rehabilitation of the colony, and the rest 40 per cent of land (20,800 sq m) was given to Raheja Developers.[29] AAP further alleged that the contract was a way to give the company prime real estate at a low cost under the guise of assisting the slum dwellers, who state that they were forcibly evicted from their homes.[30][31]

In 2014, the Prime Minister of India's Office ordered a probe relating to alleged irregularities in a Gurgaon housing project named Raheja Atharva.[32] Raheja Developers were quoted as blaming Haryana Urban Development Authority (HUDA) for the delay over construction of infrastructure like road connectivity, water and sewerage. On 16 December 2015, on basis of complaint by the Atharva Owners Welfare Association (Regd.), an inspection was carried out by Mr GR Goyat, Chariman of the State Level Expert Appraisal Committee,[33] and 0.8 acres of the Atharva project was sealed as it was illegally constructed without any Environmental Clearances.[34] Further, the news report states that instead of 520 apartments for which permission had been obtained, around 700 apartments had been constructed without obtaining the Environmental Clearance. And, instead of the 30% green spaces according to the approved plan, the builder had left only around 15% green spaces.

On 15 June 2015 an investigation was ordered into the Raheja residential project Shilas (name of some towers in the Raheja Atharva complex) by the Haryana Urban Development Authority, after an inspection revealed that the fire safety systems in the 700-apartment complex were non-functional.[35]

Forty three buyers of properties in the project Atharva filed a lawsuit against Raheja Developers with the National Consumer Disputes Redressal Commission (NCDRC). [36] Since the first case was filed by 43 buyers of Raheja Atharva on 22 July 2014, an additional 24 cases involving over 750 buyers have been filed by home buyers of Raheja Vedanta, Raheja Navodaya, Raheja Atlantis and additional buyers in Raheja Atharva at the National Consumer Disputes Redressal Commission (NCDRC) as of 3 January 2016, with Raheja being the respondent as shown on the NCDRC website.[37]

On October 07, 2015 a public notice was issued, and published on October 22, 2015 in the Hindustan Times daily newspaper, regarding complaint of Raheja Vedaanta buyers against Raheja Developers Ltd at the National Consumer Disputes Redressal Commission (NCDRC). The notice informed all other buyers, who were not yet part of the Vedaanta case against Raheja Developers to join the 110 buyers who are part of the Case Number 73 of 2015 before NCDRC.  [38]

Forbes India has alleged that Raheja Developers[39] indulged in strategic lawsuit against public participation to stifle criticism of its business practices.[40]



References




    

  1. ^ "Business Week: Raheja Developers Ltd". Business Week. Retrieved 26 November 2014.

    2. 

  2. ^ "Raheja to invest Rs 4,500 cr to develop engg SEZ in Gurgaon". New Delhi. Press Trust of India. 20 August 2008. Retrieved 14 March 2015.

    3. 

  3. ^ "Raheja Denotification" (PDF). SEZindia.nic.in. Govt of India. Retrieved 3 January 2016.

    4. 

  4. ^ "Tata Housing to develop 200 lakh sq. ft". The Hindu. Retrieved 8 August 2008. {{cite news}}: Unknown parameter |deadurl= ignored (|url-status= suggested) (help)

    5. 

  5. ^ "Lessard Design". Lessard Design. {{cite web}}: Unknown parameter |deadurl= ignored (|url-status= suggested) (help)

    6. 

  6. ^ "Times of India Publications". Times of India. {{cite news}}: Unknown parameter |deadurl= ignored (|url-status= suggested) (help)

    7. 

  7. ^ "Bhoomi Poojan of – RAHEJA SHILAS". MagicBricks. Retrieved 18 October 2010. {{cite web}}: Unknown parameter |deadurl= ignored (|url-status= suggested) (help)

    8. 

  8. ^ "RAHEJA ARANYA - OVERVIEW". Times of India. Retrieved 7 November 2013. {{cite news}}: Unknown parameter |deadurl= ignored (|url-status= suggested) (help)

    9. 

  9. ^ "Rahejas to ink JVs with Tata Housing, 2 Dubai firms". Financial Express. Retrieved 1 November 2011. {{cite news}}: Unknown parameter |deadurl= ignored (|url-status= suggested) (help)

    10. 

  10. ^ "Raheja Developers inks a joint venture with Arabtec". The Economic Times. 11 November 2011. Retrieved 14 March 2014.

    11. 

  11. ^ "Raheja Developers in JV to build tallest towers in NCR". India Today. 5 November 2011. Retrieved 14 March 2015.

    12. 

  12. ^ "Raheja forms JV with Dubai's construction firm Arabtec". Livemint. Retrieved 5 November 2011. {{cite news}}: Unknown parameter |deadurl= ignored (|url-status= suggested) (help)

    13. 

  13. ^ "RAHEJA REVANTA - OVERVIEW". Times of India. Retrieved 6 November 2013. {{cite news}}: Unknown parameter |deadurl= ignored (|url-status= suggested) (help)

    14. 

  14. ^ "RAHEJA OMA - OVERVIEW". The Times of India. Retrieved 7 November 2013. {{cite news}}: Unknown parameter |deadurl= ignored (|url-status= suggested) (help)

    15. 

  15. ^ "List of Affordable Housing Licences in Haryana". Town & Country Planning, Haryana. Retrieved 13 February 2015.

    16. 

  16. ^ "Affordable segment moves into focus as others". Indian Express. Retrieved 3 January 2015. {{cite news}}: Unknown parameter |deadurl= ignored (|url-status= suggested) (help)

    17. 

  17. ^ "Raheja cuts price for housing project in Sohna to Rs 2500/sq ft". The Economic Times. New Delhi. PTI. 29 October 2015. Retrieved 15 December 2015.

    18. 

  18. ^ "DIPP circulates Cabinet note on relaxing FDI in housing sector". The Indian Express. 21 September 2013. Retrieved 6 February 2015.

    19. 

  19. ^ "Operation Black Ninja". Cobrapost. Retrieved 11 December 2014.

    20. 

  20. ^ "Raheja Developers BUSTED in Sting Operation By Cobrapost Regarding Black Money". Qubrex News. Retrieved 18 December 2014.

    21. 

  21. ^ "Black money rampant in realty deals, reveals sting op". Times of India. Retrieved 11 December 2014.

    22. 

  22. ^ "Cobrapost Stings Realtors". Business Standard. Retrieved 11 December 2014.

    23. 

  23. ^ "Black Money: CBDT orders I-T Probe against select real estate firms". www.livemint.com. Mint. Retrieved 11 December 2014.

    24. 

  24. ^ "Cobrapost sting: CBDT orders probe against real estate firms over black money allegations". Financial Express. Retrieved 11 December 2014.

    25. 

  25. ^ Saini, Manveer. "Tax evasion worth Rs 80cr unearthed". Times of India. Retrieved 5 January 2015.

    26. 

  26. ^ "DDA's slum makeover plan takes off with Kathputli Colony". Mandakini Gahlot indianexpress.com. Retrieved 7 October 2009.

    27. 

  27. ^ a b "Consensus clause for slum projects". The Times of India. New Delhi. TNN. 10 March 2015. Retrieved 15 December 2015.

    28. 

  28. ^ "AAP's Police complaint on Kathputli Colony scam". Retrieved 20 November 2014.

    29. 

  29. ^ Tauhid, Sadafut. "Kathputli Colony: The Illusion of Rehabilitation". Ritimo. Retrieved 23 January 2015.

    30. 

  30. ^ ALI, MOHAMMAD. "'DDA granted undue benefits to Kathputli Colony redeveloper'". Retrieved 20 November 2014.

    31. 

  31. ^ "Delhi: Kathputli Colony facing threats of evictions and police action". Retrieved 20 November 2014.

    32. 

  32. ^ Hussain, Shabana. "PMO asks Haryana to probe complaints against Raheja Developers". Forbes India Magazine. Retrieved 19 December 2014.

    33. 

  33. ^ "Gazette of India" (PDF). Ministry of Environment, Forest and Climate Change. Retrieved 3 January 2016.

    34. 

  34. ^ "SEAC Seals Site of Raheja Builder". Amar Ujala. Amar Ujala Newspaper. Retrieved 3 January 2016.

    35. 

  35. ^ "Shilas Project Main Khameian Milne Per Raheja Builders Ko Notice". Dainik Bhaskar - Daily Newspaper. Retrieved 19 June 2015.

    36. 

  36. ^ "Forty three (43) Raheja Atharva Buyers Sue Raheja Developers (Gurgaon) In National Consumer Commission". GurgaonScoop. Retrieved 26 December 2014.

    37. 

  37. ^ "NCDRC Case Status" (Case Status: NCDRC; From Date 22 July 2014 To Date 3 January 2016; Field - Respondent - Raheja). National Consumer Disputes Redressal Commission. Retrieved 13 February 2015.

    38. 

  38. ^ "Public Notice Regarding Complaint 73 of 2015 by Raheja Vedaanta Buyers at National Consumer Disputes Redressal Commission". Hindustan Times. Retrieved 22 October 2015.

    39. 

  39. ^ "Business Week: Raheja Developers Ltd". Business Wire India. Retrieved 21 October 2015.

    40. 

  40. ^ Hussain, Shabana. "It's Builders Vs Buyers in the Indian Real Estate Industry". Forbes India. Retrieved 5 January 2015.

    41. 



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