Mumbai Police Investigate Rs 100 Crore Real Estate Scam: 'Sky 31' Project Fraud
Mumbai police have launched an investigation into a Rs 100 crore real estate scam in Wadala, where homebuyers were allegedly duped by a developer and others. The Economic Offences Wing (EOW) has registered the case based on complaints from 102 victims.
Real EstateScamMumbaiSky 31HomebuyersReal Estate MumbaiNov 06, 2025
The accused — real estate developer Subbaraman Anand Vilaynur, his wife Uma Subbaraman, B P Gangar Constructions, and others — “collected Rs 100 crore from 102 persons in the name of 'Sky 31' housing project in Wadala (West) since 2018, promising each a flat,” he said, quoting the complaint.
After collecting money from the victims, the accused allegedly conspired to divert the funds to their personal and other bank accounts instead of using them for the housing project. The official also said the accused “sold one flat to two persons after taking money from both and cheated them as well.”
The EOW has registered the case on charges of cheating and criminal breach of trust, and investigations are ongoing, the official said. The 'Sky 31' project was supposed to be a high-rise residential complex, promising homebuyers a modern and comfortable living space. However, the project has been marred by allegations of fraud and mismanagement, leaving many families in a lurch.
Homebuyers who invested their hard-earned money in the project are now left with no homes and no refunds. The case highlights the importance of due diligence and caution when investing in real estate, especially in large-scale projects. The EOW is working to track down the funds and bring the perpetrators to justice, providing some hope for the affected families.
The real estate sector in Mumbai is highly competitive, and such scams can have a significant impact on the trust of homebuyers. The city's authorities are taking a strict stance to ensure that such fraudulent activities are curbed and that the rights of homebuyers are protected. The ongoing investigation is expected to uncover more details and provide a clearer picture of the extent of the fraud.
For now, the victims are left to hope for a swift resolution and the return of their investments. The case serves as a cautionary tale for others considering similar investments, emphasizing the need for thorough background checks and legal advice before making any financial commitments in the real estate market.
Frequently Asked Questions
What is the 'Sky 31' project?
The 'Sky 31' project is a high-rise residential complex in Wadala (West), Mumbai, which was supposed to provide flats to homebuyers. However, it has been marred by allegations of fraud and mismanagement.
Who are the accused in the 'Sky 31' project scam?
The accused in the 'Sky 31' project scam include real estate developer Subbaraman Anand Vilaynur, his wife Uma Subbaraman, B P Gangar Constructions, and others.
How much money was collected from the victims?
The accused collected Rs 100 crore from 102 persons in the name of the 'Sky 31' housing project.
What charges have been filed against the accused?
The accused have been charged with cheating and criminal breach of trust.
What is the role of the Economic Offences Wing (EOW) in this case?
The Economic Offences Wing (EOW) has registered the case and is conducting an investigation to track down the funds and bring the perpetrators to justice.
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