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IT raids at “G Square” a TN real Estate firm over 50 locations

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The Income Tax Department conducted searches over 50 locations pertaining to real estate company G Square Realtors Private Limited in Tamil Nadu and Karnataka on Monday, a week after Tamil Nadu BJP President K Annamalai disclosed DMK files, which contained information about properties owned by DMK family members.


Annamalai alleges that The “1st family of DMK” is purportedly the owner of “G square,” which has a total revenue holding of Rs 38,827.70 crore. He further claimed that the money was unjustly obtained through corruption.

The raids also came in action after G-Square denied the claims made by Annamalai, claiming that the company is neither controlled or owned by “the 1st family of DMK” and that all claims to the contrary are baseless and without merit.

According to G-Square, the alleged assessment of the business’s assets is wholly wrong and off the mark. The Registrar of Companies maintains a public record of the firm’s assets and liabilities, which would refute the allegation that the company has a revenue holding of Rs 38,827.70 crore.

In response to Annamalai’s claims, G-square released a statement. “Basic research and verification of the Encumbrance Certificates that are readily available online show that the company developed the projects at different points in time and sold the plots to about 6,000 customers over the years,” the statement stated. The business’s revenue holding of Rs 38,827.70 crores gives the false impression that the corporation has acquired and retained all the lands.

G Square Realtors is a private company that began operations on October 12, 2012; it is recognised as a non-government business and is listed with the Chennai Registrar of Companies. The Income Tax Department previously conducted a raid on the business in 2019.



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