File plaints against real estate frauds, police urge victims

The economic offences wing of Coimbatore city police has requested the public to come forward to file complaints against real estate frauds.

COIMBATORE: The economic offences wing of Coimbatore city police has requested the public to come forward to file complaints against real estate frauds.

The city police have recently arrested M Venkatesh, managing director of Star Land Associates at Kavundampalayam, who had collected 1.50 lakh each from more than 52 people by promising them a home but never delivering them any apartment.

“Several fake real estate companies continue to cheat people by promising homes at very cheap rates. This particular case, in which more than 70 residents from Kavundampalayam, Periyanaickenpalayam and Karamadai were duped of several crores, was reported last October. “They were promised 148 plots at Pilichi village near Karamadai under the name ‘Kuberipura Nagar’. The case was registered with the district crime branch and transferred to us only this month. We have so far received 25 complaints but we expect more people to come forward to ensure we get all details before we chargesheet the case,” said a police officer attached to the economic offences wing .

The real estate owner, Venkatesh, was arrested and is now out on bail, added the police officer. “He had given advertisements in local television channels and newspapers, promising land to those who paid 1.50 lakh in instalments. Many paid 2lakh as well. Only after people paid up, did they realise the land did not belong to Venkatesh,” said the officer.

A few realized they had been cheated only when he refused to register the land in their name.

Last October, the residents had approached the district collector and subsequently, the district crime branch registered the case. Lakshmanan, one of the victims, immediately approached the owners and demanded his money. They had promised that they would return it in three instalments but in vain.

Meanwhile, residents came to know that the owners of Star Land Associates began expanding their business, cheating people in Chettipalayam and Madampatti as well. “We petitioned the collector and also registered a case after which the police arrested the owners,” said one of the residents.

“So far, 52 depositors have come forward and we have registered their complaints. Close to 90.58lakh needs to be recovered,” said police inspector, R Muruganantham.

He added that many such real estate companies were mushrooming in the city and warned public against getting cheated.

Source: http://realty.economictimes.indiatimes.com/news/regulatory/file-plaints-against-real-estate-frauds-police-urge-victims/53805025

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s