(Image Credit: X)
On Friday, Gurugram police had arrested Dhruv Datta Sharma, the director at 32nd Milestone, also referred to as 32nd Avenue in relation to a reported huge scale real estate scam amounting to almost Rs 500 crore.
Investigators claim that Sharma has sold the same floor of a commercial building to over 25 investors giving them false promises of owning and having possession. The arrest was after several complaints by the investors who alleged that they had been cheated into buying the same units of property by separate deals and documentations. According to the police, the case raises an issue of transparency in the high value real estate deals and this case indicates that the trust was severely violated.
According to the revelations of the officials, the two accused supposedly used fake or copied paperwork to lure buyers into believing that every transaction was authentic. The fraud was also allegedly discovered by most of the victims after they tried to claim the property or as they tried to get the registration records, which indicated overlapping claims. The total money that was used in the purported scam is estimated to be approximately 500 crore. According to law enforcement officers, initial evidence shows that it was a well conceived plot that spanned a number of years, and the targets were investors who wanted to find high end commercial space in the fast growing business district of Gurugram.
The law enforcers have opened a formal case and are still on the hunt to find out whether other individuals or entities were playing any role in the operation. Banking data, property records, and electronic communications are being looked into to find out how money was moved around and the extent to which the purported fraud takes place. The police are also planning to interview more witnesses and victims that have emerged since the arrest. It was stressed that additional arrests were possible in case more suspects are discovered to be connected to the case. In the meantime, the incident has raised the demand to tighten the regulatory control and increase due diligence by buyers to avoid future occurrences of such scams relating to property.
The Planet Parade 2026 will light up the February sky as six planets line up…
Prime Minister Narendra Modi arrived in Kuala Lumpur on Saturday for high-level talks with Malaysian…
PNB Bank Recruitment 2026: Notification Out For 5138 Posts At pnb.bank.in
Punjab National Bank (PNB) has released a notification inviting applications for 5,138 Apprentice posts across…
