Real Estate Developers in Pune Face Cheating Charges for Duping Customer
Four real estate developers booked for cheating customer in Pune's Marvel Bassilo project
Real EstatePuneCheatingDevelopersFraudReal Estate PuneJul 15, 2024
The agreement between the customer and the developers was registered, but the project was not completed within the deadline, and the developers failed to pay a 9% return to Sham Asnani as promised. Moreover, the developers mortgaged the property without taking prior consent from the customer, committing a breach of trust.
The crime is believed to have taken place between August 16, 2014, and November 25, 2016. The police have invoked several sections, including criminal breach of trust, cheating, and sections of the MOFA Act. No arrests have been made so far.
This case highlights the importance of due diligence and caution when investing in real estate projects. Customers must ensure that they thoroughly research the developers and the project before making any payments. Furthermore, it is essential to have a registered agreement in place and to carefully review the terms and conditions before signing.
The real estate sector in Pune has seen significant growth in recent years, with many developers launching new projects. However, cases of cheating and fraud have also been on the rise. This incident serves as a warning to both developers and customers to be vigilant and ensure that all transactions are transparent and fair.
Information
Marvel Bassilo is a residential project located in Koregaon Park, Pune. The project offers luxury apartments with modern amenities and is marketed as a high-end residential complex.
The Marvel Bassilo project is developed by Vijay Wadhwa, Sanjay Chhabria, Navin Makhija, and Vishwajeet Jhawar, who are reputable real estate developers in Pune.
Frequently Asked Questions
Who are the developers involved in the cheating case?
Vijay Wadhwa, Sanjay Chhabria, Navin Makhija, and Vishwajeet Jhawar are the developers involved in the case.
How much money was lost by the customer?
The customer lost ₹2.93 crore in the cheating case.
What is the name of the project involved in the case?
The project involved is Marvel Bassilo, located in Koregaon Park, Pune.
When did the crime take place?
The crime took place between August 16, 2014, and November 25, 2016.
What sections of the law were invoked by the police in this case?
The police invoked sections of criminal breach of trust, cheating, and the MOFA Act in this case.
Related News Articles
Pune's Real Estate Boom: Is Now the Perfect Time to Invest?
Pune's vibrant real estate market has experienced rapid changes over the past few years, with strong housing price increases and ongoing changes in market dynamics.
India's Precious Metals and Stones Sectors Pose Money Laundering Risks, Says FATF
The Financial Action Task Force has called on India to enhance oversight of the precious metals and stones sectors due to concerns over cash transactions that evade monitoring. The latest Mutual Evaluation Report reveals significant money laundering and t
India's Real Estate Market Sees 45% Surge in Institutional Investments to $1.15 Billion in Q2 FY25
According to Colliers, the office segment attracted $616.3 million in investments during the third quarter of this calendar year, a seven-fold jump from $79.1 million in the year-ago period.
Searching for Affordable Homes in Mumbai's Sky-High Real Estate Market
Mumbai's real estate market is notorious for its soaring property prices, making it exceedingly difficult for the working class to find affordable homes. Despite the challenges, some areas offer relatively cheaper options, though they come with their own
A Glimpse into Adar Poonawalla’s Luxurious Pune Mansion
Take a closer look at Adar Poonawalla's magnificent Pune mansion, valued at Rs 750 crore. Explore the opulence and grandeur of this luxurious estate through these exclusive photos.
The Rise of Ultra-Luxury Housing: What's Fueling the Upper-Class Boom?
The surge in ultra-luxury housing is a multifaceted phenomenon, driven by global wealth trends, technological advancements in property, and a growing demand for premium living experiences.