Mumbai's real estate market has been rattled by a controversy involving fake seals. Five people were detained in August on suspicion of using fake paperwork to develop 55 residential buildings and deceiving buyers since 2015. Among the suspects were a rubber stamp manufacturer, real estate brokers, developers, and a home loan services provider. From sub-registrar offices, architects, and the Vasai Virar Municipal Corporation, among others, they had obtained 115 counterfeit seals. There are now more builders implicated in this fraudulent activity, according to additional investigations, which raises questions about the scope of this forgeries in Mumbai's real estate industry.
The Mumbai police are deepening their probe into a counterfeit seals racket, which has ensnared multiple builders. The initial crackdown in August led to the arrests of five individuals, including Dilip Benvanshi, Prashant Patil, Machindra Vanmane, Dilip Adhkale, and Rajesh Naik. These individuals were alleged to have constructed 55 residential buildings using forged documents. Their activities had left a trail of cheated homebuyers since 2015.
The counterfeit seals discovered in their possession were alarming in both their quantity and their sources. A total of 115 counterfeit seals were seized during the initial arrests. These seals purported to be from various authorities, including collectors, the Vasai Virar Municipal Corporation (VVMC) town planning department, sub-registrars, MMRDA architects, and engineers.
But it didn't stop there. They used these counterfeit seals to obtain permission from the Real Estate Regulatory Authority (RERA) for constructing these 55 buildings. The implications of this revelation are vast and unsettling, raising crucial questions about oversight, regulations, and the integrity of construction practices in the region.
The VVMC's investigations into this massive scandal have not been confined to the activities of the initial five suspects. Their deepening inquiry has revealed that additional builders had similarly used fraudulent documents to construct buildings, potentially tarnishing the city's landscape with unapproved structures.
This expanding case underscores a need for stringent regulation, enhanced scrutiny, and more transparent practices within the real estate and construction sectors. Such incidents pose significant risks to homeowners, while also undermining trust in the industry as a whole.
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