The Panvel court on Monday sentenced a Navi Mumbai builder to three years imprisonment for cheating homebuyers in 2017. The builder has also been asked to return the booking amount along with 6.5 % interest to all the home buyers, police said.
Shankar Pandurang Nangre, the proprietor of Sai Developers and Builders had taken around Rs 4.5 crore as booking amounts from several homebuyers for a project in Panvel, which he never developed.
Following complaints from homebuyers, a case was registered at the Khandeshwar police station which was later transferred to the Economic Offence Wing (EOW) of Zone 2 of Navi Mumbai police in 2017. The EOW arrested Nangre in September 2018 in the cheating case under section 420 and 4 (1) and 13 (1) of Maharashtra Ownership Flats Act, 1963.
A senior official from the EoW said that the Judicial Magistrate First Class court found Nangre guilty in the cheating case as he did not develop the project despite having taken the booking amounts from 112 home buyers. “He had taken a total of Rs 4,53,96,300 from 112 home buyers for a project called Sai Amber Residency at Chiple in Panvel till 2017,” said the official.
He added that Nangre had returned Rs 50 lakh to secure anticipatory bail from the Session court in Alibaug and promised to return the rest of the money to home buyers. However, Nangre did not return the rest of the money and his bail was revoked. “Nangre was arrested in September 2018 as he failed to meet the condition set by the court,” said the official.
“Apart from three years of imprisonment, Nangre has also been ordered Rs 50,000 fine. Nangre will have to return the remaining Rs 4.03 crore as he had already given Rs 50 lakh with 6.5% to the homebuyers,” said the official. He added that the decision will help put an end to cheating in the construction business.
According to an official from EOW, Nangre had started taking bookings since 2011 for the project and did not start any work. “When home buyers complained, he began giving excuses every time and also changed his office,’ said the official.
