College of Physicians and Surgeons buys Rs 21 crore realty, sparks controversy
Pointing to the CPS’s source of income which is only the fees collected from students and medical institutes, the medical fraternity has reportedly questioned this lavish purchase made by the medical exam body.Mumbai: The College of Physicians and Surgeons (CPS) has been drawing a lot of negative attention these days due to its Rs 21.5-crore property deal with the organisation...
Pointing to the CPS’s source of income which is only the fees collected from students and medical institutes, the medical fraternity has reportedly questioned this lavish purchase made by the medical exam body.
Mumbai: The College of Physicians and Surgeons (CPS) has been drawing a lot of negative attention these days due to its Rs 21.5-crore property deal with the organisation recently purchasing the entire 48th floor with six flats of L&T Crescent Bay in Parel to serve the space as a guest house to accommodate visiting faculty members and students.
When Mumbai Mirror asked about purchasing the flats, Dr Girish Maindarkar, president of CPS, said that this is the first such real estate investment they have engaged in since the outfit’s inception in 1912.
Dr Maindarkar stated that the organization has been arranging the stay for visiting faculty at Dadar. The members of CPS board, who are not residents of Mumbai, also arrange their own accommodations when they come for visits.
Explaining the purpose of the purchase, he said “Once we get possession of these flats, we will use them as a guest house. Students pursuing our diplomas and fellowships also visit CPS for lecture series twice a year. They face difficulties to arrange their stay in the city. We will also accommodate them in the flats,”
He added that the L&T has received the occupation certificate for the project and CPS is expecting possession in the next month.
Pointing to the CPS’s source of income which is only the fees collected from students and medical institutes, the medical fraternity has reportedly questioned this lavish purchase made by the medical exam body.
Later, Dr Maindarkar justified the purchase, he claimed that for the past eight years, they had been building a ‘corpus fund’ for the guest house and the Charity Commissioner’s office was in the know of the purchase, Mumbai Mirror reported.
However, this is not the first lavish deal made by CPS. In 2015-16, the organization had purchased six flats worth Rs 11crore at a realty project in Poisar, Kandivali. But the deal was later cancelled. Therefore, it has been speculated by various sources that how the CPS managed to double its budget for the guest house in a year.
Recently, CPS was in the news this year regarding its medical courses.
Read Also: U-Turn: Ministry of Health De-Recognizes PG diplomas offered by CPS, Mumbai
Mumbai: The College of Physicians and Surgeons (CPS) has been drawing a lot of negative attention these days due to its Rs 21.5-crore property deal with the organisation recently purchasing the entire 48th floor with six flats of L&T Crescent Bay in Parel to serve the space as a guest house to accommodate visiting faculty members and students.
When Mumbai Mirror asked about purchasing the flats, Dr Girish Maindarkar, president of CPS, said that this is the first such real estate investment they have engaged in since the outfit’s inception in 1912.
Dr Maindarkar stated that the organization has been arranging the stay for visiting faculty at Dadar. The members of CPS board, who are not residents of Mumbai, also arrange their own accommodations when they come for visits.
Explaining the purpose of the purchase, he said “Once we get possession of these flats, we will use them as a guest house. Students pursuing our diplomas and fellowships also visit CPS for lecture series twice a year. They face difficulties to arrange their stay in the city. We will also accommodate them in the flats,”
He added that the L&T has received the occupation certificate for the project and CPS is expecting possession in the next month.
Pointing to the CPS’s source of income which is only the fees collected from students and medical institutes, the medical fraternity has reportedly questioned this lavish purchase made by the medical exam body.
Later, Dr Maindarkar justified the purchase, he claimed that for the past eight years, they had been building a ‘corpus fund’ for the guest house and the Charity Commissioner’s office was in the know of the purchase, Mumbai Mirror reported.
However, this is not the first lavish deal made by CPS. In 2015-16, the organization had purchased six flats worth Rs 11crore at a realty project in Poisar, Kandivali. But the deal was later cancelled. Therefore, it has been speculated by various sources that how the CPS managed to double its budget for the guest house in a year.
Recently, CPS was in the news this year regarding its medical courses.
Read Also: U-Turn: Ministry of Health De-Recognizes PG diplomas offered by CPS, Mumbai
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