Realtor faces FIR for cheating investors

Realtor faces FIR for cheating investors
13/01/2018 , by , in News/Views

A city court has directed police to book a Gurgaon-based real estate company and its directors for cheating investors.

Sana Realtors allegedly sold units to investors in Precision Soho Tower, a commercial project in Sector 67, nearly eight years back without then having an approved building plan. The developer is also accused of selling common toilets as office space in another commercial project — Silverton Towers — on Golf Course Road (extension).

Judicial magistrate (1st class) Manish Kumar ordered the registration of an FIR for cheating, fraud and criminal breach of trust against Sana Realtors and its directors on January 5, observing the builder started taking money from investors in Precision Soho Tower in April 2010 when it didn’t have the required approval for the building plan.

The developer got the approval only in July 2011, which is clear from the builder-buyer agreement signed dated April 12, 2010, in which the requisite licence column was left blank, the court observed, directing the police to investigate and file a compliance report in the case by February 8.

The order was passed on a complaint filed by Yash Handa and Praveen Saluja, who had booked units in Precision Soho Tower. “The buidling plan was approved almost a year after I had booked the unit in April 2010. The builder fraudulently induced investors like me to purchase flats and deposit their hard earned money even before approval of the building plan,” he said.

Handa also claimed the developer first took more than 20% of the unit cost and then forwarded the “one-sided” builder-buyer agreement in April 2010.

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