Charity Commissioner Revokes Sale Deed of Jain Trust Property in Pune
The Maharashtra charity commissioner has ordered the cancellation of the sale of a prime property in Pune belonging to a Jain trust to a developer, following protests from the community.
Jain TrustProperty SaleCharity CommissionerGokhale Landmarks LlpModel ColonyReal Estate PuneOct 31, 2025
The property, located in Model Colony, spans 3.5 acres and currently houses a boarding facility and a Jain temple. The development came after both Gokhale Landmarks LLP, a construction firm, and the Seth Hirachand Nemchand Digambar Smarak Trust expressed their desire to cancel the sales deed related to this property.
The charity commissioner revoked its April 2025 order, which had initially allowed the Seth Hirachand Nemchand Digambar Smarak Trust to enter into an agreement with Gokhale Landmarks LLP. The order stated, “Gokhale Landmarks LLP and the trustees of SHNST shall take appropriate steps and measures for the cancellation of the sale deed and the power of attorney dated October 10, 2025. These measures shall be taken at the earliest. Upon cancellation of the sale deed, the trustees should refund the entire amount of the sale consideration to Gokhale Landmarks.”
The property was acquired by Pune-based Gokhale Landmarks LLP earlier this year for ₹311 crore from the Seth Hirachand Nemchand Memorial Trust. A sum of ₹230 crore was paid, while the remaining amount was earmarked for the redevelopment of the hostel. Last week, the charity commissioner had ordered a status quo on the transaction. Members of the Jain community had held protests in Pune and other cities in Maharashtra, accusing the trustees of favoring the developer and violating norms governing charitable land while proceeding with the deal.
Vishal Gokhale, chairman and managing director of Gokhale Constructions, commented, “Respecting the sentiments of the Jain community, I decided to withdraw from the project. The trustees of Seth Hirachand Nemchand Digambar Jain Boarding Trust also responded positively to the decision. After today’s order of the charity commissioner, the further legal process to cancel the sale deed will be initiated soon.”
This decision by the charity commissioner is a significant victory for the Jain community, who had been vocal about their concerns over the sale of the property. The community's protests and the subsequent actions taken by the commissioner highlight the importance of transparency and adherence to regulations in transactions involving charitable properties.
Frequently Asked Questions
What is the main reason for the cancellation of the sale deed?
The main reason for the cancellation of the sale deed is the protests from the Jain community, who accused the trustees of favoring the developer and violating norms governing charitable land.
How much money was paid for the property?
₹230 crore was paid for the property, with the total sale amount being ₹311 crore.
Who are the key parties involved in this transaction?
The key parties involved in this transaction are Gokhale Landmarks LLP, the Seth Hirachand Nemchand Digambar Smarak Trust, and the Maharashtra charity commissioner.
What is the size of the property in question?
The property in question spans 3.5 acres and is located in Model Colony, Pune.
What will happen to the ₹230 crore paid by the developer?
The trustees of the Seth Hirachand Nemchand Digambar Smarak Trust are required to refund the entire amount of the sale consideration to Gokhale Landmarks LLP upon the cancellation of the sale deed.
Related News Articles
London's Luxury Real Estate Developers: The Ultimate Amenities War
From Botox on demand to town cars that do school runs, London's luxury real estate developers are pushing the boundaries of luxury living with their latest amenities.
From Hollywood to Business Mogul: Priyanka Chopra's Strategic Ventures and Real Estate Empire
Priyanka Chopra's journey from a Hollywood star to a successful entrepreneur, with her beauty brand Anomaly and real estate investments
Noida Mandates Flat Registration for Homebuyers Amid Real Estate Scandals
The Noida Authority board has implemented a significant change in real estate transactions, mandating flat registration for homebuyers, following recent scandals in the sector.
Madhya Pradesh to Launch Online Property Registration by Next Year
Madhya Pradesh is set to introduce online property registration services, making the process more convenient and accessible for residents and buyers.
Understanding the Impact of Trump's Reciprocal Tariffs on NRIs Investing in Indian Property
The recent introduction of reciprocal tariffs by the Trump administration has raised concerns among Non-Resident Indians (NRIs) investing in the Indian real estate market, particularly in cities like Bengaluru, Hyderabad, and Pune. This article explores t
Trump World Centre Pune: A Premier Destination for Premium Office Space
The Trump Organization is making a significant entry into India's commercial real estate market with the launch of Trump World Centre in Pune, boasting two commercial towers spanning 1.6 million square feet of premium office space.