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Police in Ahmedabad have registered a criminal complaint against a group of developers and their associates on allegations of large-scale cheating and breach of trust involving approximately 95 homebuyers. Complainants allege that the group sold properties in a proposed housing project without securing required regulatory approvals and later sold the land to others. The total amount allegedly collected from buyers is around INR 35 crore, prompting an investigation by the Detection of Crime Branch into transactions, notarial agreements and the role of intermediaries in the scheme.
Ahmedabad police have registered a case alleging that developers and their associates cheated about 95 homebuyers of around INR 35 crore in a housing fraud, authorities said earlier this week. The complaint, filed with the Detection of Crime Branch, centres on a proposed housing project in Chharodi village. Advertisement
According to the registered FIR, the developers launched the scheme without obtaining mandatory Real Estate Regulatory Authority registration or non-agricultural land conversion permission, but nevertheless collected money from prospective homebuyers. One complainant, a software engineer based in GIFT City, told investigators that he was introduced to the project by a real estate broker who described it as being in a pre-launch stage, with regulatory approvals under process.
The complainant said he had made an initial booking payment followed by instalment payments totalling more than INR 11 lakh for a 2BHK unit, under the understanding that approvals would be completed soon. When he later contacted the developers to check on progress, he was informed that the project had been scrapped and that the land earmarked for development had been sold to other parties through a registered sale deed.
Further inquiry revealed that funds had been collected from at least 92 other buyers for flats and commercial shop spaces in the proposed scheme. Some buyers were issued notarised memoranda of understanding, the police said, but no construction work had commenced. When confronted, the developers allegedly admitted that the money collected had been diverted to other projects and that they were unable to refund the amounts to buyers.
Investigations have been launched to verify transaction records, identify all affected buyers and examine the involvement of intermediaries, including brokers and project promoters, in the alleged fraud. Police are also scrutinising notarised agreements and other documents issued to buyers as part of the inquiry.
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