Thane-based developer arrested for cheating flat buyers, Real Estate News, ET RealEstate

May 22, 2024
1 min read
Thane-based developer arrested for cheating flat buyers, Real Estate News, ET RealEstate


<p>Representative Image</p>
Representative Image

THANE: The Crime Branch Unit-5 of Thane Police has arrested a developer for allegedly cheating two flat buyers out of nearly Rs 2 crore. The buyers were promised possession of their flats but were left in the lurch for over eight years due to purported legal issues.

According to the police, the complainants had entered into an agreement with the developer in 2016 to purchase flats measuring over 650 square feet each in the Mogharpada area of Ghodbunder Road. The buyers, trusting the developer, secured bank loans to pay for the flats and commenced monthly EMI payments.

“Despite fulfilling their financial part , the buyers never received possession of the flats. Each time they inquired, they were met with excuses regarding legal complications,”said Vikas Ghodke, the senior inspector of Thane crime branch.

Ghodke elaborated that a legal glitch emerged when the landowner, on whose land the building was constructed, took the developer to court. The court then prohibited the developer from selling the flats to third parties. Despite the court orders, the developer proceeded with the registration and accepted payments from the buyers, promising them possession of the flats but failing to deliver.

“The developer continuously delayed the handover of the flats, citing the civil court’s order that prevented him from obtaining the necessary occupational certificate (OC),” said Ghodke.

The complainant sought the refund of the amount given to the developer but the developer offered to stay at the flat sold to him. But as the building was not completed and with no facility of the elevator, he refused. Later the complainant again sought the refund and handed him a cheque of some amount which was dishonoured at the bank, Ghodke added.

Hence, he registered a case with the Kasarwadavali police station under cheating and other sections of the Indian penal code. The accused was produced in the court who remanded him to the police custody for two days for the further probe.

The police said that the developer has similar three such cases against him.

  • Published On May 22, 2024 at 11:00 AM IST

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