Mumbai Police Register Case Against Real Estate Developer for Rs 100 Crore Housing Fraud
Mumbai police have registered a case against a real estate developer and others for allegedly defrauding homebuyers of Rs 100 crore in the Wadala area. The Economic Offences Wing (EOW) is investigating the case after a complaint from a chartered accountant.
Real Estate FraudMumbaiSky 31Economic Offences WingHomebuyersReal Estate MumbaiNov 06, 2025
The case was registered on Wednesday after a preliminary enquiry based on a complaint filed by 62-year-old Chartered Accountant Anil Dron, a resident of Kandivali in Mumbai, as per an official statement.
The key accused in this fraud are real estate developer Subbaraman Anand Vilaynur, his wife Uma Subbaraman, B P Gangar Constructions, and others. Since 2018, these individuals have collected Rs 100 crore from 102 persons in the name of the 'Sky 31' housing project in Wadala (West), promising each a flat.
However, after collecting the money from the victims, the accused are alleged to have conspired to divert the funds to their personal and other bank accounts instead of using them for the housing project. This diversion of funds has left the homebuyers in a lurch, with no flats to show for their significant investments.
Adding to the fraud, the accused also sold one flat to two different individuals, taking money from both and thereby cheating them. This duplicitous act has further complicated the situation and increased the number of aggrieved parties.
The EOW has registered the case against the accused on charges of cheating and criminal breach of trust. A thorough investigation is currently underway to uncover the full extent of the fraud and bring the perpetrators to justice. The police are also working to recover the funds and provide some form of relief to the victims.
This case highlights the need for stricter regulations and oversight in the real estate sector to prevent such large-scale fraudulent activities. Homebuyers are often left vulnerable to such schemes, and it is crucial that they are protected from unscrupulous developers who exploit their trust and financial investments.
The Mumbai Police and the EOW are committed to ensuring that justice is served and that such fraudulent practices are deterred in the future. The ongoing investigation will not only focus on the recovery of the funds but also on identifying any other potential victims and expanding the scope of the probe if necessary.
For the homebuyers involved, the road to recovery may be long and arduous, but the authorities are working diligently to ensure that their investments are safeguarded and that the guilty are held accountable for their actions.
Frequently Asked Questions
What is the total amount of money defrauded in the 'Sky 31' housing project?
The total amount defrauded in the 'Sky 31' housing project is Rs 100 crore.
Who are the main accused in this housing fraud case?
The main accused in this housing fraud case are real estate developer Subbaraman Anand Vilaynur, his wife Uma Subbaraman, B P Gangar Constructions, and others.
What charges have been filed against the accused?
The accused have been charged with cheating and criminal breach of trust.
How many homebuyers were affected by this fraud?
102 homebuyers were affected by this fraud.
Which police wing is investigating this case?
The Economic Offences Wing (EOW) is investigating this case.
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