Fraudulent land records and fake valuations used to illegally obtain development rights in Bengaluru.

ED Charges Valmark Realty Director, BBMP Officials in ₹27.7 Crore TDR Scam.

The Enforcement Directorate has filed a prosecution complaint in a major transferable development rights (TDR) scam, naming a director of Valmark Realty Holdings Private Ltd and 19 others, including former employees of the Bruhat Bengaluru Mahanagara Palike. The case stems from a 2019 FIR registered by the Anti-Corruption Bureau. According to the ED, the accused illegally earned nearly ₹27.7 crore by fraudulently procuring development rights certificates and selling TDRs. Brokers and officials allegedly conspired to misrepresent land ownership, conceal prior sales, and falsely value properties as agricultural to qualify for TDR benefits. In one instance, land at Kowdenahalli was shown as eligible despite being converted into a revenue layout with multiple third-party owners. The probe also revealed the use of forged powers of attorney, manipulated records, and false building valuations to secure approvals from civic authorities.