In a startling development, the Chunabhatti police have initiated a comprehensive investigation into a case involving alleged fraud in the real estate sector. The investigation revolves around accusations against six individuals, including well-known figures Jagdish Ahuja and Gautam Ahuja from Ahuja Constructions. The accused are alleged to have deceived a staggering 590 homebuyers, enticing them with the promise of acquiring flats in a high-profile redevelopment project centered around the O2 building on LBS Road.
Eager Homebuyers Left in Limbo
Within this group of affected individuals, a total of 280 original homeowner families find themselves in a state of uncertainty as they await the resolution of their rental arrangements. Additionally, another 310 buyers have come forward, claiming to have paid substantial amounts, ranging between 75% and 100% of the total property cost, yet are still without possession. What compounds the distressing situation is the revelation that the prices of these flats underwent an arbitrary increase following the introduction of an external investor into the project.
Legal Action Initiated by Vigilant Homebuyer
The case was brought to the attention of law enforcement when Ramprasad Gupta, a lawyer by profession and a homebuyer entangled in the alleged fraud, lodged a First Information Report (FIR) on a Saturday. In his statement to the police, Gupta unveiled a shocking twist in the saga: the original flat cost of ₹75-80 lakh had been surreptitiously altered to a staggering ₹1.75 crore to ₹2 crore. This significant price adjustment was attributed to the involvement of Fosun Hive, a China-based company, as an investor and developer in the project. Gupta further disclosed that he had personally disbursed ₹1.55 crore, along with an additional ₹11 lakh for registration and stamp duties.
Unfulfilled Promises and Allegations of Wrongdoing
Despite assurances that possession of the flats would be granted by June 2022, construction work was allegedly abandoned by Fosun Hive, also identified as Carbon Hive Zero Constructions Pvt Ltd, as early as February of this year. Remarkably, developers reportedly continued to market and sell flats until the end of June, further exacerbating the plight of the aggrieved buyers and tenants.
In response to the demands for access to their rightfully owned properties, the developers purportedly offered a rather perplexing solution. They indicated that work would only recommence once new developers or contractors were brought into the fold. Consequently, the disillusioned buyers have lodged complaints of unjustifiable losses, coupled with allegations of developers illicitly reaping undue financial gains.
Transfer to Specialized Investigation Unit
Given the complexity and magnitude of the case, senior police inspector Anil Desai announced that the investigation would be transferred to the Economic Offence Wing (EOW). Desai emphasized that the case necessitates meticulous documentation, comprehensive verification, and technical analysis. "All relevant parties involved will soon be issued summonses under section 41A of the Code of Criminal Procedure, seeking their full cooperation with the ongoing investigation," he remarked.
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