4 realtors booked for duping Mumbai businessman of ₹12 crore

Nareshkumar Chandan has alleged four realty firm partners took the amount from him under the guise of selling a 4BHK flat in a South Mumbai high-rise.

A south Mumbai-based businessman has lodged a police complaint against four partners of a real estate firm alleging that they cheated him to the tune of ₹12 crore.

The Mumbai police’s Economic Offences Wing is investigating the case.

Nareshkumar Chandan has alleged the four partners took ₹12 crore from him under the guise of selling a 4-BHK flat in a plush South Mumbai high-rise. However, he said they later mortgaged the flat with two private finance firms and took a loan of ₹14 crore and have defaulted in repayment of the loan.

The housing unit of Economic Offences Wing (EOW) of the Mumbai police is investigating the case. The accused have been identified as Vijay Kamdar, Dhaval Kamdar, Rupal Desai and Sunil Shah, partners of Harsh Developers.

Chandan, 46, is a resident of Sikka Nagar in VP Road area. The police filed his complaint under relevant sections of the Indian Penal Code against the four partners. A case was first registered with Gamdevi police station and later transferred to the EOW.

In his complaint, Chandan, who is into metal and chemicals trading, said he came in contact with Harsh Developers through a real estate agent in 2009.

Chandan wanted to buy a house and Harsh Developers was constructing a high-rise near August Kranti Chowk in Nana Chowk area. Chandan said between 2010 and 2014 he paid ₹12 crore to Harsh Developers in 11 instalments for the 4-BHK flat.