The Sinhagad Road police have charged two real estate agents accused of defrauding a 66-year-old client out of Rs57 lakh. The victim alleged he was enticed into investing in two apartments and a shop in a Vadgaon Budruk project in January 2021. The realtors presented him with an occupancy rights certificate, asserting the legality of the building. However, the complainant later discovered that one of the booked flats was sold to a third party, and the PMRDA had not issued an occupancy certificate. The case underscores the importance of transparency in real estate transactions and authorities' efforts to address fraudulent practices.
The Sinhagad Road police have pressed charges against two real estate agents accused of defrauding a 66-year-old client out of Rs57 lakh. The elderly victim, residing in Dhankawadi, alleged that he was enticed into investing in two apartments and a shop in a Vadgaon Budruk project in January 2021. Assistant Inspector Rahul Yadav reported on Friday that the complainant had disclosed he paid Rs57 lakh to the realtors for the properties. The agents purportedly presented him with an occupancy rights certificate from the Pune Metropolitan Region Development Authority (PMRDA) to assert the legality of the building they claimed to have constructed in Narhe. The retired individual, who had diligently earned his money while working for a private firm, made the payments through online transactions and cheques. Regarding the shop, the realtors executed a sale deed agreement and notarized documents for the flats in the complainant's name. Yadav detailed that the complainant later discovered that one of the two flats he had booked was sold to a third party by the realtors, despite having received advance payment from him. Furthermore, he learned that the PMRDA had not issued an occupancy certificate for the building. The victim initially submitted a complaint application in April. Following verification, a complaint involving charges of cheating and forgery was registered, prompted by the PMRDA's revelation that it had not issued an occupancy certificate to the builder. The realtors defended themselves by claiming that they had not handed over possession of the properties due to an ongoing court case. They have been instructed to furnish copies of relevant documents and case papers for further investigation. This incident follows a similar case from July of this year, where two directors of a city-based realty firm were under investigation for a Rs90.4 crore loan fraud. These individuals had allegedly secured a loan from a New Delhi-based finance firm in August 2017 by mortgaging 28 flats and six shops without the knowledge of the rightful owners. In summary, the Sinhagad Road police are actively pursuing legal action against the accused realtors, emphasizing the need for transparency in real estate transactions and the consequences of fraudulent practices that jeopardize the investments and trust of unsuspecting customers. This incident highlights the broader issue of financial impropriety in the real estate sector, with authorities taking measures to address such malpractices and protect the rights of the public.
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