Raheja Developers

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Raheja Developers Limited
Formerly
Raheja Developers Private Limited
Private
Industry Real estate
Founded 1989 (1989) in Delhi, India
Founder Navin Raheja
Headquarters Saket, New Delhi, India
Area served
National Capital Region
Key people
Navin Raheja (Chairman and Managing Director)
Nayan Raheja (Executive Director)
Website www.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 in 1989.

History[edit]

Raheja Developers Limited was incorporated by Navin Raheja in 1989.[1] The group has worked with contractors such as Aedas[2] Shapoorji-Pallonji,[3] and two of its joint-development projects were in collaboration with Tata Group.[4] It had also collaborated with Dubai-based Arabtec Construction.[5]

In 2008, Raheja Developers planned to build a Special Enterprise Zone (SEZ) in Gurgaon at an estimated cost of $660M US. The development was to be on a 255-acre (103 ha) site[6] but the project did not advance. The Government of India announced denotification of the SEZ project on 29 January 2014; the entire project was scrapped.[7]

In 2010, a raid by Indian Income Tax authorities led to a recovery of tax evasion amounting to 80 crore (US$12 million).[8]

In 2014 investigative portal Cobrapost conducted a sting operation against several real estate developers.[9][10] It alleged that Raheja was one among the several developers willing to accept black money.[11]

In 2014, the Prime Minister of India's Office ordered a probe relating to alleged irregularities in a Gurgaon housing project named Raheja Atharva.[12] Subsequently, the State Level Expert Appraisal Committee investigated,[13] and 0.8 acres of the Atharva project was sealed as it was illegally constructed without any Environmental Clearances.[14]

Raheja launched a project in Sohna in January 2015 under the affordable housing policy of the Haryana Urban Development Authority (HUDA).[15][16]

References[edit]

  1. ^ "Business Week: Raheja Developers Ltd". Business Week. Retrieved 2014-11-26. 
  2. ^ "Tata Housing to develop 200 lakh sq. ft". The Hindu. Retrieved 2017-06-10. 
  3. ^ "Bhoomi Poojan of – RAHEJA SHILAS". MagicBricks. Retrieved 2010-10-18. 
  4. ^ "Rahejas to ink JVs with Tata Housing, 2 Dubai firms". Financial Express. Retrieved 2011-11-01. 
  5. ^ "Raheja forms JV with Dubai's construction firm Arabtec". Livemint. Retrieved 2011-11-05. 
  6. ^ "Raheja to invest Rs 4,500 cr to develop engg SEZ in Gurgaon". New Delhi. Press Trust of India. 20 August 2008. Retrieved 2015-03-14. 
  7. ^ "Raheja Denotification" (PDF). SEZindia.nic.in. Govt of India. Retrieved 2016-01-03. 
  8. ^ Saini, Manveer. "Tax evasion worth Rs 80cr unearthed". Times of India. Retrieved 2015-01-05. 
  9. ^ "Black money rampant in realty deals, reveals sting op - Times of India". The Times of India. Retrieved 2017-10-26. 
  10. ^ Reporter, B. S. (2014-11-28). "Cobrapost stings realtors". Business Standard India. Retrieved 2017-10-26. 
  11. ^ "Operation Black Ninja". Cobrapost. Archived from the original on December 11, 2014. Retrieved 2014-12-11. 
  12. ^ Hussain, Shabana. "PMO asks Haryana to probe complaints against Raheja Developers". Forbes India Magazine. Retrieved 2014-12-19. 
  13. ^ "Gazette of India" (PDF). Ministry of Environment, Forest and Climate Change. Retrieved 2016-01-03. 
  14. ^ "SEAC Seals Site of Raheja Builder". Amar Ujala. Amar Ujala Newspaper. Retrieved 2016-01-03. 
  15. ^ "List of Affordable Housing Licences in Haryana". Town & Country Planning, Haryana. Retrieved 2015-02-13. 
  16. ^ "Affordable segment moves into focus as others". Indian Express. Retrieved 2015-01-03.