Navi Mumbai Housing Scam: Kharghar Developers Booked For Cheating 8 Homebuyers Of ₹7.29 Crore In Luxury Project Fraud

Navi Mumbai, Dec 11: The directors of a Kharghar-based construction company have been booked for allegedly cheating eight homebuyers of more than Rs 7.29 crore in a luxury residential project located in Sector 37, Kharghar.

Police said the three directors collected crores through flat bookings and an advance-interest scheme but failed to hand over possession or refund the invested amounts.

Complainant Paid Rs 1.76 Crore for Two Flats But Received No Possession

The case began after complainant Suraj Gurav stated that he booked two flats on the 43rd floor of the Sector 37 luxury project in 2009 and paid over Rs 1.76 crore through instalments, bank loans and online transfers.

Despite regular assurances via emails and site updates claiming construction progress, he never received possession. In 2022, the company also lured buyers with a scheme promising 9% annual interest on advance instalments, which several homebuyers opted for.

Eight Buyers Invested Rs 74.54 Lakh in Advance-Interest Scheme Alone

According to the FIR, eight buyers collectively invested Rs 74.54 lakh in the advance-interest scheme alone, apart from the amounts paid for their flats. The investors include Manish Kumar (Rs 58.55 lakh), Charantej (Rs 50.44 lakh), Parmanand Jain (Rs 64.82 lakh), Anil Pujari (Rs 43.55 lakh), Junghare (Rs 52.97 lakh), Manoj Malhotra (Rs 74.15 lakh), Aditya Apoorva (Rs 91.83 lakh) and Saurabh Nair (Rs 40.33 lakh). Police said the company neither paid the promised interest nor issued refunds.

Buyers Say Developer Built Trust With Misleading Construction Updates

Buyers alleged that the developer built trust by showing positive construction updates through emails, letters and site visits, pushing many to invest their savings, take bank loans and even use retirement funds.

Case Registered Under MPID and BNS Acts; More Victims Likely

Based on the complaint, offences have been registered under the Maharashtra Protection of Depositors (MPID) Act Sections 3 and 4, and Bharatiya Nyaya Sanhita (BNS) Sections 318(4), 318(2), 316(2) and 3(5) against the three directors.

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"We have launched an in-depth investigation and suspect more buyers may surface as victims," a police officer from Kharghar Police Station said.

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