Mumbai Real Estate Scam: Man Arrested for Duping Developer of ₹4 Crore & 3.5Kg Gold
A 72-year-old real estate developer was duped of ₹4 crore and 3.5kg gold by a wanted real estate agent, who promised him a vacant plot in Worli for development.
Real Estate ScamMumbaiWorli PoliceDhirendra Chandrakant ShuklaKailash Kedar Nath AgarwalReal EstateSep 12, 2024
Agarwal was approached by Shukla in 2023, who showcased properties in the Worli Sea Face and Harkness Road areas and offered to assist him in acquiring and developing them. Agarwal liked one of the properties, located on RG Thadani Road, Worli Estate, Scheme No 58, and Shukla claimed to have a close relationship with the property's owner and presented some documents, promising to arrange a meeting to finalise the deal.
Shukla valued the property at ₹150-160 crore and requested advance money. Agarwal gave 3.5 kg gold as an advance payment to him. Two months later, Shukla claimed that the property owner was leaving the country and needed the money urgently. He assured Agarwal that a meeting with the owner would be arranged soon. Trusting Shukla, Agarwal transferred ₹2 crore.
However, Shukla subsequently became unresponsive, avoiding Agarwal’s calls. Realizing he had been scammed, Agarwal filed a police complaint in 2023. Following the complaint, the police registered a fraud case against Shukla. Three days ago, Shukla was arrested by the Worli police from Odisha.
The Worli police have been cracking down on real estate scams in the area, and this arrest is a major breakthrough in their efforts.The Worli police are a part of the Mumbai Police Department, which is responsible for maintaining law and order in the city of Mumbai.
Frequently Asked Questions
What was the amount of money and gold involved in the scam?
The scam involved ₹4 crore and 3.5kg gold.
Who was the person arrested in connection with the scam?
Dhirendra Chandrakant Shukla, a wanted real estate agent, was arrested from Odisha.
What was the promise made by Shukla to the victim?
Shukla promised to arrange a meeting with the property owner and finalise the deal.
When did the victim file a police complaint?
The victim filed a police complaint in 2023.
What was the outcome of the police investigation?
The police registered a fraud case against Shukla and arrested him from Odisha.
Related News Articles
Pune Property Market Sees Flat Registrations in August 2024 Amid Rising Stamp Duty Collections
Real estate analysts point to a shift in homebuyers' preferences and increasing prices in major micro-markets as registrations remain flat
Arkade Developers Sets New Sales Record with Over Rs 115 Crore on Launch Day
Mumbai witnesses another milestone in the residential real estate market as Arkade Developers announces a sales benchmark of over Rs 115 crore on the launch day of their two projects.
Festive Home Buying: A Financial and Emotional Boost for the Real Estate Market
As the festive season approaches, the Indian housing market is experiencing a surge in demand. Discover how favorable economic conditions, government schemes, and cultural traditions are driving this trend.
Godrej Properties Launches ₹6,000 Crore QIP to Boost Growth
Godrej Properties has launched a qualified institutional placement (QIP) to raise up to ₹6,000 crore. This move aims to fund the company's ambitious expansion plans, particularly in key markets like Delhi-NCR, MMR, Pune, Bengaluru, and Hyderabad.
Hiranandani Group Makes Strategic Entry into Pune's Real Estate Market with Landmark Deal
The Hiranandani Group, one of India's leading real estate developers, has officially entered the vibrant real estate market of Pune by partnering with Krisala Developers on a significant 105-acre project.
South Indian Investors Embrace the Stock Market: Trends and Insights
South India's investment landscape is evolving, with more people turning to the stock market. Cities like Bengaluru, Chennai, and Kochi are witnessing a surge in retail investors, driven by better financial awareness and digital trading platforms.