Mastermind Behind Multi-Crore Real Estate Scam Arrested in Maharashtra
A 56-year-old man has been arrested for allegedly orchestrating a multi-crore housing scam in Navi Mumbai, which defrauded thousands of investors in the national capital with false promises of land, high returns, and fake government approvals.
Real Estate ScamFraudsterNavi MumbaiPragati Valley ProjectInvestorsReal EstateJun 20, 2025
The officer said that Mohite, who carried a cash reward of Rs 50,000 on his head, was wanted in four separate cases registered with the Economic Offences Wing (EOW) and one case with Amar Colony Police Station.
Mohite was the mastermind behind a massive real estate scam involving a fictitious housing scheme named ‘Pragati Valley Project’ at Karjat, Navi Mumbai. He, along with associates, allegedly lured thousands of Delhi investors to put money into a non-existent project through false promises of land ownership, high returns, and fake government approvals, said Additional Commissioner of Police (CP), Crime, Sanjay Kumar Sain.
The accused and his firm, Pragati Land & Housing Corporation, in conspiracy with more than 70 fake estate companies launched an aggressive marketing campaign using forged brochures, pre-launch offers, and fabricated documents, he added. The victims were induced to invest via cheques and cash, amounting to over Rs 20 crore, police said. “Investigations later revealed that the company did not own any land, had no government registration or approvals, and abruptly shut down operations by 2010 following which the accused and his associates absconded,” the Additional CP said.
All cases pertain to offences under relevant sections of the IPC relating to cheating, forgery, criminal breach of trust, and conspiracy, police said. The proclaimed offender status was declared between 2018 and 2019 by the courts in Rohini and southeast districts of Delhi, they said.
A police team conducted surveillance and groundwork over several days, even posing as local contractors to gather actionable intelligence, officials said. The team traced Mohite to the jurisdiction of Karjat Police Station in Raigad, they said. A coordinated raid was conducted earlier on Wednesday, resulting in Mohite’s arrest, police said.
He was produced before a local court in Raigad, and a transit remand was obtained for his production before the competent court in Delhi, they said. Further investigation is on to identify the wider network of accomplices and to recover assets procured through the fraudulent scheme, police said.
Frequently Asked Questions
Who was arrested for the multi-crore real estate scam?
Dattatray Ganpati Mohite, a 56-year-old man, was arrested for allegedly masterminding the multi-crore housing scam in Navi Mumbai.
What was the name of the fictitious housing scheme?
The fictitious housing scheme was named ‘Pragati Valley Project’ at Karjat, Navi Mumbai.
How much money did the scam reportedly defraud from investors?
The scam reportedly defrauded investors of over Rs 20 crore.
What methods did the accused and his associates use to lure investors?
The accused and his associates used forged brochures, pre-launch offers, and fabricated documents to lure investors with false promises of land ownership, high returns, and fake government approvals.
Where was the accused arrested?
The accused was arrested from Maharashtra’s Raigad.
Related News Articles
India's Rise to Realty Prominence: A Billion-Dollar Boom
India is accelerating to become the real estate capital of Asia, with a total valuation of Rs 14.2 trillion among the top 100 realty companies.
Maharashtra Cabinet Renames Pune Airport After Sant Tukaram Maharaj
The Maharashtra Cabinet has approved a proposal to rename Pune airport after the 17th-century Warkari saint and poet, Sant Tukaram Maharaj.
The Downfall of Real Estate Moguls: Alexander Brothers Arrested in Miami
In a shocking turn of events, the renowned real estate moguls, the Alexander Brothers, were recently arrested in Miami. This news has sent ripples through the business community, leaving many to wonder what led to their downfall.
Luxury Homes, Toxic Air: The Urban Pollution Paradox in India
Nithin Kamath, a prominent real estate analyst, highlights the growing concern of urban pollution in major Indian cities like Delhi, Mumbai, and Bengaluru. Despite seeing a surge in luxury real estate, these cities struggle with alarming levels of air pol
Tragic Incident: Two Workers Killed, One Injured as Slab Collapses in Chikhla Mines
A devastating slab collapse in the Chikhla mines of Manganese Ore (India) has resulted in the death of two workers and left one injured. The incident has raised serious concerns about safety protocols in the mining industry.
Women Home Buyers Witness 14% Surge in 2024: Report
A recent report by Square Yards, titled 'Key Holders of Change - Women Driving Real Estate Growth and Transformation,' reveals a significant 14% increase in women homebuyers in 2024.