Press Esc to close

Home buyers lose Rs 36 cr in fraud

New Delhi, May 6, 2014, DHNS: 4:05 IST
A real estate firm owner was arrested for swindling over 1,500 prospective property buyers to the tune of Rs 36 crore.

Manoj Bhardwaj, 41, chairman and managing director of city based real estate company Arun Dev Builders Ltd, was booked for selling flats in a pre-launch project in Haridwar.

The company had proposed a township project ‘Arun Dev City: Haridwar’ in 2006 without prior registration, land, approval or sanction of the site plan, police said.

Bhardwaj was arrested on Saturday after Delhi Police got complaints from several buyers.
“Thirty-six buyers had filed complaints with various police stations,” Deputy Commissioner of Police of economic offence wing Sanjay Tyagi said.

He said police found out that the developer got no clearance from the Uttarakhand government.

Bhardwaj, who faces charges of illegal bookings of pre-launch properties, has been booked on criminal charges of conspiracy to defraud prospective buyers.

He is in police remand now.

Arun Dev Builders Ltd collected more than Rs 100 crore from buyers for projects in Shahpura, Bhiwadi, Jaipur, Mandawar and Faridabad without having approval from the competent authority or the government, police said in a press statement.

According to police, Bhardwaj started his career as a property dealer by buying agricultural land and selling it as small plots to individuals.

In 1997, he floated his own company, which lured middle class buyers into affordable housing projects.

The company induced gullible investors by selling dreams through luring brochures and advertisements, police said.

Go to Top

More from this section
Most trending stories
Photo Gallery
ASC Tornadoes rewrites record

ASC Tornadoes rewrites record

Karnataka Minister K J George unveils the Bengaluru Open 2017 trophy...

Karnataka Minister K J George unveils the Bengaluru Open 2017 trophy...

The holy shrine of Badrinath received moderate snowfall in Uttarakhand ...

The holy shrine of Badrinath received moderate snowfall in Uttarakhand ...

A Mathew and HDRL Thirimanne greet each other as they built up their partnership...

A Mathew and HDRL Thirimanne greet each other as they built up their partnership...

Tourists enjoy this winter's first snowfall at Manali, in Himachal Pradesh...

Tourists enjoy this winter's first snowfall at Manali, in Himachal Pradesh...

People watch an ill fated bus after an accident which killed many people in Latur...

People watch an ill fated bus after an accident which killed many people in Latur...

Manushi Chillar, center is crowned Miss World during the beauty pageant..

Manushi Chillar, center is crowned Miss World during the beauty pageant..

Players of North East United FC and Jamshedpur FC vie for the ball...

Players of North East United FC and Jamshedpur FC vie for the ball...

Manushi Chillar is crowned Miss World during the beauty pageant...

Manushi Chillar is crowned Miss World during the beauty pageant...

Bangalore ATP Challenger

Bangalore ATP Challenger

Like us on Facebook

Copyright 2017, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bengaluru - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523
Powered by Yodasoft Technologies Pvt. Ltd.