Delhi: Real Estate Scam Defrauds Retired Official of ₹3.5 Lakh
A Delhi-based real estate company has allegedly duped a retired Central government official of over ₹3.5 lakh in a long-standing housing project that was abruptly closed. The scam involves multiple victims and a total of ₹50 crore.
Real EstateScamDelhiHousing ProjectFraudReal EstateFeb 27, 2025
The police have registered an FIR based on a complaint lodged by Manoj Anand, who retired from the Department of Telecommunications.
According to the FIR, the real estate company launched a housing project in 2004, in which Anand booked a 300-square yard plot.
He initially paid ₹1.5 lakh and made several other transactions as per the company's demands, totaling ₹3.56 lakh.
The company claimed to have received a 'no objection certificate' from the Jaipur Development Authority (JDA) and included the project on its website under 'upcoming projects' until 2023.
However, the project was suddenly removed from the company's website, raising serious concerns among the investors.
Despite repeated attempts to contact the company, Anand and other plot applicants were unable to get any clear responses.
Phone calls to the company's office either went unanswered or were redirected to a fax machine.
The company is accused of transferring the land to its associate companies, leaving Anand and other investors without their promised plots.
Four more victims—Jitender Thakur, Mohinder Singh, Manoj Chaudhary, and Sandeep—have also filed complaints against the real estate company.
They allege that approximately 2,000 plots were booked in the housing project between 2004 and 2005, with the company collecting around ₹50 crore as a booking amount.
Despite receiving these funds, the company allegedly sold parts of the project land to its associates between 2014 and 2019.
The complainants also claim that the company's collaborator launched a new project on the same land, for which the JDA issued a license in 2020, selling approximately 300 plots to the public.
This scam highlights the vulnerabilities in the real estate sector, where unsuspecting investors can lose significant amounts of money due to fraudulent activities.
The police are currently investigating the case, and other potential victims are advised to come forward with their complaints.
The real estate sector in India is heavily regulated, and companies are required to obtain various permits and certificates before launching housing projects.
However, as this case demonstrates, unscrupulous developers can exploit legal loopholes and the lack of transparency to defraud investors.
For retired officials and other individuals considering investing in real estate, it is crucial to conduct thorough due diligence, verify the credentials of the developers, and ensure that all necessary approvals are in place before making any financial commitments.
Frequently Asked Questions
What is the amount defrauded from the retired official?
The retired official, Manoj Anand, was defrauded of over ₹3.5 lakh in the real estate scam.
When was the housing project initially launched?
The housing project was initially launched in 2004.
How many plots were booked in the housing project?
Approximately 2,000 plots were booked in the housing project between 2004 and 2005.
What did the company do with the land after collecting the booking amounts?
The company allegedly transferred the land to its associate companies and sold parts of the project land to its associates between 2014 and 2019.
What advice is given to potential investors in real estate?
Potential investors are advised to conduct thorough due diligence, verify the credentials of the developers, and ensure that all necessary approvals are in place before making any financial commitments.
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