Elderly Man Duped of ₹2.43 Crore in Mumbai Flat Fraud: Developers and Real Estate Agent Booked
A 64-year-old man was allegedly defrauded of ₹2.43 crore by Shree Jee Developers and a real estate agent in Kandivali, Mumbai.
Real Estate FraudMumbai Flat FraudShree Jee DevelopersRuparel Realty DevelopersNarendra ShahReal Estate MaharashtraJul 16, 2024
The complainant, Narendra Shah, a resident of Dahisar East and a real estate businessman, had invested in seven flats in the Park View project in Kandivali West. However, the accused sold the project to another developer without delivering the flats or refunding the money.
According to Shah, he came into contact with Bafana through his business activities. In 2019, Bafana introduced Shah to the Mehtas, whose office is located in JVPD Scheme, Vile Parle West. The Mehta partners informed Shah that their Park View project, under the slum redevelopment scheme, was underway and sought funds for its completion. They assured Shah that the project, located in an upscale area, would yield good profits.
It was agreed that the developers would construct seven flats in Shah's name, which he could subsequently sell. Sale agreements were drawn up, and Shah paid ₹2.43 crore, including registration, stamp duty, parking fees, and Bafana's commission, partly through cheque and cash.
However, in 2022, Shah discovered that Shree Jee developers had sold the project to Ruparel Realty Developers without informing him. The agreement between Shree Jee and Ruparel Reality did not mention Shah's flats. Despite requests for a refund, the developers failed to return his money.
Consequently, Shah filed a complaint with the Kandivali police station, and a case was filed on July 15 under sections 316 (2) (criminal breach of trust), 318 (4) (cheating), and 3 (5) (general explanation) of the Bharatiya Nyaya Sanhita.
information Shree Jee Developers is a Mumbai-based real estate development company, and Ruparel Realty Developers is also a Mumbai-based real estate development company.
The Kandivali police are investigating the matter, and the accused are currently absconding. The police are urging anyone with information about the whereabouts of the accused to come forward.
Frequently Asked Questions
Who are the accused in the Mumbai flat fraud case?
The accused are Shree Jee Developers' Kirti Mehta, Mona Mehta, and real estate agent Sunil Bafana.
How much money did the complainant, Narendra Shah, lose in the fraud?
Narendra Shah lost ₹2.43 crore in the fraud.
What is the name of the project where the fraud took place?
The project is called Park View, located in Kandivali West.
Who did the accused sell the project to?
The accused sold the project to Ruparel Realty Developers.
What are the sections under which the case was filed?
The case was filed under sections 316 (2) (criminal breach of trust), 318 (4) (cheating), and 3 (5) (general explanation) of the Bharatiya Nyaya Sanhita.
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