Fayaz Bukhari
Srinagar, May 12: Srinagar Development Authority (SDA) has failed to recover Rs 12.6 crores from shopkeepers at Sangarmall Shopping Complex in Srinagar that was built at a cost of Rs 18.5 crores six years ago.
As per the documents, the Shopping Mall in Srinagar has 126 spaces including shops, restaurants and kiosks in its first phase and so far 80 of them have been sold and 46 are unsold. The three Phase Sangarmall project was left half way by the SDA at I-phase due to lack of funds and political interference in recovering the amount from the shopkeepers.
The documents suggest that 21 allottees are the major defaulters and their outstanding premium is Rs 8.06 crore, interest on premium is Rs 3.49 crore and outstanding rent is Rs 88 lakhs with Rs 16 lakh as interest on rent.
The major defaulter is Sheikh Feroz Ahmad, who owns restaurant in the Mall. He has been allotted the Restaurant on Rs 3.22 crore as premium but has deposited only Rs 1.5 crore and has Rs 1.72 crore premium outstanding with the total outstanding of Rs 2.77 crore including 19 lakh rentals.
A per the terms and conditions laid down by the SDA, the possession can be handed over temporarily after deposition of 50 percent premium amount. But Feroz has not deposited 50 percent amount as premium and the SDA papers reveal that he has not been issued possession but he is running the Restaurant for last several years.
One Abdul Rashid Chalak has been allotted a shop for Rs 60.26 lakhs. He has only deposited Rs 15.75 lakh as premium and has an outstanding of Rs 44.50 lakhs. As per the documents of the SDA, he has not been issued the possession but he is also running his business. He has a total outstanding of Rs 62 lakhs while his total premium was less than that.
Sheikh Imran, the Director Sun Silk, is another major defaulter. He has been allotted the space for Rs 1.05 crore in the Mall but has deposited around Rs 60 lakh as premium and has outstanding of around Rs 45 lakh with total outstanding figuring at Rs 66 lakhs.
Sheikh Mushtaq M/S Kehwah Food is another major defaulter whose outstanding is around Rs one crore. He was allotted a space in the Mall at Rs 1.36 crore and had deposited Rs 68 lakh only.
Sheikh Imran and Omar Javed have been allotted a space for Rs 1.35 crore and they have deposited Rs 68 lakh only and their total outstanding of Rs 1.04 crore.
Kashmir Square has been allotted space for Rs 1.35 crore and has deposited Rs 68 lakh and the outstanding is around Rs one crore.
M/S Kash Ind Agro Infra Services has been allotted space for Rs 1.35 crore and he has deposited premium of around Rs 68 lakhs and his total outstanding of Rs around 92 lakhs.
The documents suggest that the SDA has issued notices to these allottees but they have not responded and the department has not taken any action against them to recover the premium and interests due to political interference.
Sources say that these allottees have managed to get the shops allotted from the Vice Chairmen of the SDA since 2010. The VCs had issued verbal orders that the department should not pursue for premium and the rentals. They said that this has resulted in the blocking of funds and failure on part of the SDA to go ahead with the II and III phase of the project.
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