Real Estate Agent Arrested for Fraudulent Flat Sale in Mumbai

A real estate agent has been arrested by Dahisar Police in Mumbai for allegedly cheating a chartered accountant of Rs 29.5 lakh through a fraudulent flat sale. The arrest was made on Saturday, according to police officials.

While Deepak Kirit Shah was arrested, co-accused Rajesh Jain and Aditya are absconding, said a police official.

Complainant Hitesh Mansukhbhai Gondvilya, a Dahisar resident and a chartered accountant, was searching for a residential property as he was living in a rented flat. During his search, Gondvilya came across an online advertisement for a flat with a price of Rs 1.05 crore.

After the complainant contacted the number mentioned in the advertisement, a man who identified himself as Aditya invited him to visit the flat in the Rawalpada area. The complainant and his father visited the flat and decided to buy it. Aditya introduced him to Deepak Kirit Shah and Rajesh Jain, claiming that Jain was the owner while Shah was the broker handling the transaction.

The complainant allegedly paid them Rs 29.55 lakh as part consideration. He was planning to raise the balance amount through a bank loan after the registration of the sale agreement. However, the accused postponed the registration on various pretexts and started avoiding him.

When the complainant checked the flat’s ownership details at the tehsildar’s office, he was shocked to learn that it belonged to another person. The accused had provided him forged documents by replacing the original owner’s photograph with that of Jain.

After he approached the police, Shah was arrested and a search was underway for the other two men, the official said. This incident highlights the need for buyers to thoroughly verify property ownership and documentation before making any payments.

Real estate fraud is a significant concern in the housing market, and buyers are advised to exercise caution and seek legal advice when making large investments. The arrest of Shah is a step towards ensuring the safety and security of property transactions in the city.

The Dahisar Police have urged anyone with information about the whereabouts of the other accused to come forward and assist in the investigation. They have also advised the public to report any suspicious activities related to property transactions to the nearest police station.