Broker alleges Rs 3cr cheating in real estate deal

Ahmedabad: A 29-year-old real estate broker lodged a complaint with Satellite police, alleging that he was duped of Rs 3.24 crore by four persons who lured him into investing in a commercial real estate project deal with promises of high returns.According to the FIR filed on Sunday, the complainant, who is engaged in land transactions, was introduced in 2024 to a proposed commercial complex project near a prominent junction in the city. He was told that the scheme offered lucrative returns and that investments could potentially double. The proposal involved purchasing seven office units on the seventh floor of the upcoming commercial building, with a total super built-up area of around 7,390 sq ft, for Rs 4.77 crore.
Police said the complainant was allegedly persuaded by an acquaintance and his associates, including a representative linked to the project and the firm's proprietor. It was agreed that Rs 10 lakh would be paid as token money in cash, while Rs 3 crore — which the complainant claimed was due to him from the acquaintance in previous dealings — would be adjusted and deposited with the project firm. The remaining amount was to be paid through banking channels. The complainant alleged that Rs 10 lakh was handed over in cash at a café near the project site, while Rs 3 crore was shown as deposited with the firm. Later, in May 2024, he and his father visited the project office, where they were informed that the scheme was registered under RERA and that Rs 2 lakh per unit had to be paid via cheque. Accordingly, Rs 14 lakh was transferred through RTGS and cheques from his bank account. Receipts were issued for these transactions, police said. The broker further alleged that although he has so far paid Rs 3.24 crore towards the booking of the seven units and is ready to pay the remaining Rs 1.77 crore, the developers failed to execute the sale deed. He also claimed that a diary reflecting earlier cash entries was destroyed and replaced with separate allotment letters for each unit. Satellite police registered a case of cheating and criminal breach of trust.