Advertisement

HindustanTimes Fri,19 Sep 2014

Treasure Island Mall promoters hiding half taxable area: IMC

HT Correspondent, Hindustan Times  Indore, August 29, 2014
First Published: 17:57 IST(29/8/2014) | Last Updated: 17:57 IST(29/8/2014)

The promoters of Treasure Island were found to be declaring only half of the taxable area in the property tax self-assessment form, said Indore Municipal Corporation officials after a physical measurement at the swanky mall-cum-multiplex located on MG Road on Thursday.

The mall, which receives thousands of footfalls every day and houses some of the most popular brands of eateries and apparel, declared total taxable area at 3.19,214 square feet.

"Physical measurement showed that the taxable area was 6,65,272," said an official present during the inspection.

The inspection carried out in the presence of representatives from Entertainment World Developers Pvt Limited, the holding company, revealed that parking areas in the first and second basement as well as ground floor were either unlisted or under-reported in the self-assessment form.

In October 2011 IMC cleared over 2,000 square feet of public space by knocking down illegal constructions at Treasure Island mall-cum-multiplex at MG Road on Monday.

Treasure Island has faced allegations of permissible floor area ratio violations and other irregularities in the past.

The then Building Officer, Chhatrapati Shivaji (Stadium) zone refused to issue a completion certificate citing violation of floor area ratio (FAR), high-rise committee guidelines and the approved plan.In a missive (57/CE/BO) to mall promoters Entertainment World Developers Private Ltd (EWDPL) the Officer pointed out that, as per 2.5 FAR allowed for commercial structures, the mall was eligible only for a built up area of 23,736.30 sq m.

But the site survey conducted by (a team of engineers from) SGSITS has revealed that the built up space, inclusive of service areas, actually stands at 49,170.51 sq m, he declared.

In October 2011 IMC cleared over 2,000 square feet of public space by knocking down illegal constructions at Treasure Island mall-cum-multiplex at MG Road on Monday.


Advertisement
more from Indore

Indore civic body overrules Treasure Island objection, asks to pay Rs 4.5 cr

Overruling objections filed by the promoters of a mall at a hearing on Monday, the civic body directed Treasure Island to pay Rs 4.50 crore to cover the alleged under-declaration of taxable area.
Advertisement
Most Popular
Advertisement
Advertisement
Copyright © 2014 HT Media Limited. All Rights Reserved