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By:

Rajendra Joshi

3 December 2024 at 3:50:26 am

Kolhapur cop sets new standard for investigations

Yogesh Kumar Gupta Kolhapur: When a police officer takes genuine interest in securing justice for citizens duped in financial fraud, investigations can move swiftly enough to lift the crushing burden off affected families. Kolhapur Superintendent of Police Yogesh Kumar Gupta has demonstrated precisely that. His firm and sensitive handling of a cheating case ensured relief for Akshay Deepak Dhale, a young entrepreneur from Kolhapur who had fallen prey to a Rajkot-based company that allegedly...

Kolhapur cop sets new standard for investigations

Yogesh Kumar Gupta Kolhapur: When a police officer takes genuine interest in securing justice for citizens duped in financial fraud, investigations can move swiftly enough to lift the crushing burden off affected families. Kolhapur Superintendent of Police Yogesh Kumar Gupta has demonstrated precisely that. His firm and sensitive handling of a cheating case ensured relief for Akshay Deepak Dhale, a young entrepreneur from Kolhapur who had fallen prey to a Rajkot-based company that allegedly promised to secure large government loans for business expansion. Gupta’s intervention compelled company representatives to travel to Kolhapur and assure repayment of the money collected, effectively forcing them onto the back foot. Dhale, a resident of Sadar Bazaar, had dreamt of expanding his late father’s small printing business after losing him during the Covid-19 pandemic. Lured by promises of securing a multi-crore loan under a Central government scheme, he transferred ₹69 lakh — raised from nearly 15 friends and relatives — to the company’s account. The loan, however, never materialised. When Dhale began making inquiries, he was met with evasive responses. The financial shock left the family devastated. Initial attempts to seek police help reportedly went nowhere, with the matter labelled as “non-criminal” and dismissed at the preliminary stage. Acting on advice, the family approached the district police chief directly. Gupta’s decisive stand altered the course of the case, leading to concrete assurances of refund from the company. However, a far larger challenge now looms before the Kolhapur police chief. Across Kolhapur — and reportedly other parts of Maharashtra — several Marathi youths claim to have been duped by a Morbi-based businessman who allegedly promises to set up “innovative” enterprises for aspiring entrepreneurs. The scale of the alleged fraud runs into crores of rupees. The businessman, said to be linked to a major tile industry in Morbi, is accused of luring youngsters through social media promotions and advertorials in prominent English dailies. Contracts are structured to appear transparent and legitimate. Prospective entrepreneurs are promised exclusive access to novel business models, often involving products sourced from Chinese markets, complete with projected marketing strategies and attractive feature lists. According to victims, payments are collected upfront, but the products eventually supplied lack the promised specifications and hold negligible market value. Several youths across Maharashtra are believed to have suffered losses. Those who have confronted the accused allege they were threatened with defamation suits and warned that a team of “expert lawyers” would ensure their financial and reputational ruin if complaints were filed. While some victims have resigned themselves to debt and despair, others who attempted to pursue police complaints claim they were turned away. For many of these young entrepreneurs, SP Yogesh Kumar Gupta represents a ray of hope. If he chooses to take up the matter with the same resolve demonstrated earlier, it could not only restore faith among affected youths but also send a strong deterrent message to fraudsters operating under the guise of innovation-driven enterprise.

Mumbai 3.0 to reshape land economics

AI generated image
AI generated image

Mumbai: The Maharashtra government’s approval of a comprehensive land acquisition and allotment policy for the proposed “Mumbai 3.0” or “Third Mumbai” marks a decisive step toward expanding the Mumbai Metropolitan Region (MMR) eastward into the Atal Setu (Mumbai Trans Harbour Link) influence zone. Envisaged as a large-scale urban–industrial hub, the project is expected to reshape land economics, infrastructure planning and real estate investment patterns across Uran, Panvel and adjoining talukas.


However, it also raises concerns among local residents regarding livelihoods, environmental sustainability, and equitable development.


Policy Framework

The policy provides a structured mechanism for acquiring and allocating land through mutual agreements or under the 2013 land acquisition law, while offering compensation in cash, Floor Space Index (FSI), or Transferable Development Rights (TDR).


Approximately 200 sq km of land has been earmarked under the New Town Development Authority and the MMRDA to facilitate planned growth and infrastructure rollout in the region.


A distinctive element is the “pass-through” cost model, under which land acquisition and infrastructure costs will be borne by plot holders or allottees, with MMRDA levying establishment charges and allotting land largely on an “as-is-where-is” basis.


The policy also prioritises large industrial investments and foreign direct investment (FDI), requiring a minimum of 100 acres and Rs 250 crore investment per 100 acres within four years to qualify for priority allotment.


Impact on Real Estate

From a real estate perspective, the policy could significantly alter supply dynamics within the MMR. By unlocking large contiguous land parcels, the government is creating a rare development opportunity in a market historically constrained by land scarcity. Planned townships, logistics parks, and industrial clusters are likely to stimulate demand for both commercial and residential projects in the extended region.


The emphasis on private cost-bearing may initially raise project entry barriers but could also accelerate execution timelines by reducing fiscal burdens on the state. Analysts expect early-stage land aggregation and speculative investments to intensify, especially in areas linked to the Atal Setu corridor, which promises enhanced connectivity to Mumbai’s island city.


However, the “as-is-where-is” allotment structure and infrastructure funding responsibilities may increase capital risk for developers, particularly mid-sized firms. Real estate pricing could witness a bifurcation: premium industrial and logistics projects backed by FDI may flourish, while residential segments may grow gradually depending on transport connectivity and civic amenities rollout.


Infrastructure Change

Infrastructure development is central to the Mumbai 3.0 vision. The policy is designed to expedite roads, logistics networks and industrial infrastructure in the Atal Setu influence zone, thereby reducing congestion in existing Mumbai and promoting balanced regional growth.


Strategically located near the Sewri–Nhava Sheva corridor, the area is poised to evolve into a multimodal logistics hub supporting port-based industries, warehousing, and manufacturing.


Nonetheless, the success of the infrastructure push hinges on parallel investments in mass transit, water supply and social infrastructure. Without integrated transport planning such as metro, suburban rail or bus rapid transit, residential real estate absorption may lag behind industrial growth.


Residents’ take

Residents in the proposed impact zone have expressed mixed reactions. A farmer from Pen said, “We hope the compensation in FSI or TDR will secure our future, but we want clarity on how quickly payments and rehabilitation will happen.” Another resident from Uran noted, “Development will bring jobs and better roads, but we fear losing our traditional livelihoods and green spaces.”

 

However, some local youth see opportunity: “If industries come, we won’t have to migrate to Mumbai for work,” said a college graduate from Panvel. Yet, environmental concerns remain strong, with several villagers stressing that “the coastal and forest ecosystems must be protected during expansion.”

 

Overall, the land acquisition policy for Mumbai 3.0 signals a structural shift toward decentralised urban expansion and infrastructure-led growth in the MMR. While it offers significant upside for real estate developers, industrial investors,

 

Prashant Sharma, President, NAREDCO Maharashtra said, “We welcome the Maharashtra cabinet’s decisive approval of the land acquisition and allotment policy for the Third Mumbai initiative, a visionary step that reinforces the state’s commitment to planned and sustainable urban growth."

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