Four developers have been booked by the Navghar police for allegedly cheating home buyers on the pretext of providing flats under the subvention scheme - a three-way agreement between the buyer, seller, and the bank providing the loan.
The booked accused are identified as Jeram Jetha Gami, and Govind Jetha Gami - directors of Amardeep Constructions, Jaydeep Creators and founder of PSK Group.
According to the complainant, Atul Shirodkar (48), he was looking for a flat since 2014. In 2017, he was introduced to the aforesaid accused, with whom he met, to discuss buying an apartment at Anutham, a project by Amardeep Constructions, located in Mulund East. The quartet assured him a flat and asked him to trust him and their subvention scheme.
Atul and another person decided to agree to the idea. As per the plan, they had to put in Rs 20 lakh in the scheme, and at the end, they would get two apartments for which in 2018, they signed a registration agreement as well, and paid Rs 11.4 lakh. As per the scheme, the bank would provide the amount to the seller, which is Rs 1.64 crore, and the remaining amount of Rs 59.18 lakh was paid via cheques by the buyers. The money the bank provided to the seller was reclaimed through buyers’ bank accounts by deducing money every month (EMI).
As per their agreement, the sellers were supposed to return the money to the buyers which was being deducted by the bank, and by the end, they would get the two apartments. However, nothing of that sort happened, alleges Shirodkar, who added that they lost over Rs 2.23 crore and did not get the apartments as well. Shirodkar also added that when they asked the four accused about the same, they started receiving threats of all kinds.
A case has been registered against the four accused on Saturday under sections 420 (cheating), 506 (criminal intimidation), and 34 (common intent) of the Indian Penal Code. The Navghar police have initiated a probe in the matter.
