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Authorities uncovered a major real estate fraud involving Privilon Buildcon Group, which falsely claimed ownership of land in Ghuma village, Ahmedabad, to sell properties under two ambitious projects. Investigations revealed that the land was legally owned by Dharnidhar Developers and co-owners, including Ashok Patel. The developers, Hiren Kariya and Jaydeep Kotak, duped 240 buyers of INR 54 crore by forging ownership documents and a memorandum of understanding. A special investigation team confirmed the fraudulent activity after examining land records and financial transactions.
An in-depth investigation into land revenue records has exposed fraudulent activities by Privilon Buildcon Group regarding land ownership in Ghuma village. The land, where two multi-storey projects were proposed, was discovered to belong to Dharnidhar Developers and a group of co-owners led by Ashok Patel, according to the Ahmedabad Rural Police. Advertisement
Earlier, the Ahmedabad Rural Police arrested Hiren Kariya and Jaydeep Kotak, directors of Privilon Buildcon Group, for deceiving 240 buyers out of INR 54 crore. The duo allegedly fabricated land ownership documents, including a forged memorandum of understanding, to claim possession of the land and sell properties under two high-rise schemes.
The fraudulent projects, named Celestial and Richmond Bay, were marketed as promising ventures with 14 and 22-storey buildings, respectively. Celestial was to include 642 flats and 70 shops, while Richmond Bay was designed to feature 171 flats and 34 shops. Buyers, unaware of the fraudulent claims, invested via bank transfers, cheques, and cash.
Following numerous complaints, the police formed a special investigation team (SIT) under the leadership of deputy superintendent of police. The SIT scrutinised land ownership documents and financial transactions, ultimately confirming that Privilon Buildcon Group never held ownership rights to the land in question.
Police officials stated that the accused created a partnership firm under the name Privilon Buildcon LLP and used a falsified notarised memorandum of understanding to legitimise their claims. This fake document was then used to market and sell flats under the company's name.
This case underscores the importance of due diligence in property transactions and serves as a cautionary tale for buyers to verify legal ownership before making investments.
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