A 57-year-old transport business owner from CBD Belapur has fallen prey to a protracted real estate fraud, losing INR 1.47 crore to conmen who promised him six flats but delivered nothing, according to police reports filed last week. Authorities have named a real estate director and two associates as accused in this nearly decade-old crime.
Data Protection and DPDP Act Readiness: Hundreds of Senior Leaders Sign Up for CDPO Program
A Promise Broken
Between June 2011 and January 2016, the victim was repeatedly lured by assurances of a formal Agreement for Sale and eventual possession of six flats. Despite transferring the full sum, no legal documents were executed nor properties delivered. Only in 2025 did the victim lodge a formal complaint, prompting the police to register a case under sections pertaining to cheating and breach of trust.
A Stalled Saga of Legal Recourse
The long interval between the fraud and filing of the complaint underscores challenges in fraud detection and victim recourse in India’s real estate sector. Lawyers warn that such delayed registrations complicate investigations and weaken evidence trails, making prosecution and asset recovery more difficult.
Police have urged property buyers to exercise due diligence—verifying title deeds, developer credentials, and registration documents before making any payments. This case once again shines a light on widespread malpractice in property sales, particularly sales made via informal pitches or unverified leads.