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 Office Space Goes Green: 65% of Offices Now Certified
The Indian government's push for net zero emissions by 2070 is driving the adoption of green certified offices in the country, with a significant 65% of office space now holding green certifications.
Pidilite Strengthens Its Hold in the Construction Industry with a?5 Crore Investment in Wify
Pidilite, a leading manufacturer of adhesives and construction chemicals, has invested?5 crore in Wify, a innovative startup in the real estate and home improvement market.
Goa RERA Imposes Rs 5 Lakh Fine, Orders Repairs on Faulty Apartment
The Goa Real Estate Regulatory Authority (RERA) has imposed a penalty of Rs 5 lakh on a real estate firm for failing to meet the terms of a sale agreement. The firm is also required to repair the broken tiles and submit a compliance report within 60 days.
Kalpataru Wins Two Major Redevelopment Projects in Chembur and Goregaon
Kalpataru, a leading real estate developer, has secured two significant redevelopment projects in Chembur and Goregaon, boosting its portfolio and enhancing its presence in Mumbai's real estate market. The projects, located in the bustling residential are
Mumbai Real Estate Shift: Majority of 2024 Registered Properties Under 650 Sq Ft
In 2024, a significant portion of the properties registered in Mumbai were smaller than 650 sq ft, with a notable 60% comprising 1 BHK and 2 BHK apartments, according to the Maharashtra Real Estate Regulatory Authority (MahaRERA).
Amit Shah in Pune: Western India to Drive India's Growth with 120% Effort in Key Sectors
Amit Shah in Pune: Western India to Drive India's Growth with 120% Effort in Key Sectors. Real Estate plays a significant role in this ambitious plan.