Gurugram builder booked for cheating Noida man of ₹3.9 crore

Investigators said that the developer, who is on the run, took payment from the victim and then entered into an agreement with another person to sell the same property

A developer was booked for allegedly cheating a Noida-based man of ₹3.9 crore in the name of selling him an apartment in Block-K of Gurugram’s South City-I, police said on Tuesday.

Police said that the victim, Lalit Vyas, 62, is a resident of Sector-50 in Noida. Investigators said that the developer had allegedly cheated several other homebuyers using the same modus-operandi whom they are trying to contact. (Representational Image)

Investigators said that the developer, who is on the run, took payment from the victim and then entered into an agreement with another person to sell the same property.

Police said that the victim, Lalit Vyas, 62, is a resident of Sector-50 in Noida. Investigators said that the developer had allegedly cheated several other homebuyers using the same modus-operandi whom they are trying to contact.

Police said that Vyas started negotiations with a realty firm regarding a 3,200 square foot apartment on the first floor of a building in South City-I. Investigators said that the firm, acting as an agent, got Vyas in touch with a developer, identified as Naveen Garg, who allegedly had the general power of attorney (GPA) to sell and develop the plot.

A senior police officer said that the original owners of the plot were two women living in DLF Phase-I and Phase-II respectively. “Vyas had even checked the property’s original papers after getting in touch with the women,” he said.

The officer said that Vyas signed an agreement for sale was done on July 1, 2022. The rate was finalised for ₹4.2 crore of which ₹3.9 crore were paid in multiple instalments in cash and cheque.

Investigators said that through these instalments, Vyas started paying the developer for carrying out construction works. However, the developer allegedly kept pressurising Vyas for making more payments in lieu of quick works.

Investigators said that the developer had promised Vyas to get the property registered in his name and hand it over to him by January 31, but the matter kept delaying after which the buyer became suspicious. When the developer pushed the date to March, Vyas went to visit the property only to find it locked on March 20.

Police said when Vyas contacted the developer, his phone came switched off.

“The victim reached the developer’s office in Sector-39 and residence on Golf Course Road, but both were found locked. Neighbours told him that the suspect and his family left the place,” he said.

On Vyas’s complaint, an FIR was registered against the developer under sections 406 (criminal breach of trust) and 420 (cheating) of Indian Penal Code at Sector-40 police station on Monday night.

Inspector Satish Kumar, station house officer (SHO) of Sector-40 police station, said Vyas is just one of several victims of the developer. “The developer Naveen Garg is presently on the run. We were trying to trace his whereabouts besides trying to approach other victims too,” he added.