Mumbai Police Register FIR Against Eight Developers for 32 Crore Fraud
The Kasturba Marg Police in Mumbai have registered an FIR against eight developers and realtors for defrauding 200 people of Rs 32 crore. The victims had booked flats in two buildings of an SRA project but have not received possession or refunds.
FraudReal EstateSra ProjectMumbaiKasturba Marg PoliceReal Estate MumbaiAug 12, 2025
The FIR, which has been registered under various sections of the Indian Penal Code (IPC) and the Maharashtra Ownership Flats (Regulation of the Promotion of Construction, Sale, Management, and Transfer) Act, 2015, highlights the severe implications of the fraud. The developers and realtors are accused of misleading the buyers by making false promises and failing to deliver on their commitments.
The SRA project, which was supposed to provide affordable housing to the less privileged, has instead become a source of distress for many families. The victims, who had saved for years to purchase their dream homes, are now left without any recourse. The police have initiated a thorough investigation to trace the funds and bring the perpetrators to justice.
The Kasturba Marg Police have also set up a helpline for the victims to report any additional information or evidence that could aid the investigation. The police are working closely with legal experts to ensure that the rights of the victims are protected and that the developers and realtors are held accountable for their actions.
This case highlights the importance of due diligence and the need for stringent regulations in the real estate sector. The Maharashtra government has been taking steps to strengthen the regulatory framework to prevent such fraudulent activities. The Real Estate (Regulation and Development) Act, 2016, which mandates transparency and accountability in real estate transactions, is expected to play a crucial role in preventing similar incidents in the future.
The victims, who are now part of a collective effort to seek justice, have expressed their frustration and disappointment. Many of them have lost their life savings and are grappling with the financial and emotional impact of the fraud. The police have assured the victims that they will do everything in their power to recover the lost funds and ensure that justice is served.
The real estate sector in Mumbai has been under scrutiny for several years due to instances of fraud and malpractice. This latest case has once again brought to light the need for robust regulatory mechanisms and the importance of consumer protection. The Kasturba Marg Police's swift action in registering the FIR and initiating the investigation is a positive step towards restoring public trust in the system.
Frequently Asked Questions
What is the total amount of the fraud?
The total amount of the fraud is Rs 32 crore.
How many developers and realtors are involved in the fraud?
Eight developers and realtors are involved in the fraud.
How many people were affected by this fraud?
200 people were affected by this fraud.
What is the SRA project?
The SRA project stands for Slum Rehabilitation Authority project, which is aimed at providing affordable housing to the less privileged.
What actions have the Kasturba Marg Police taken?
The Kasturba Marg Police have registered an FIR, initiated a thorough investigation, and set up a helpline for the victims to report any additional information or evidence.
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