Developer sells residential plots, cheats 78 buyers of 5 cr
The investors had been paying installments, but prior to delivery, the developer Rudra 7 Buildcon company disappeared from the scene
Dec 03, 2014
Source : The Times of India


NOIDA: A real estate company has been booked for allegedly duping 78 people of Rs 5 crore, on the pretext of selling residential plots.

Police said Rudra 7 Buildcon had promised plots in Haridwar and Vrindavan. The investors had been paying installments, but prior to delivery, the developer company disappeared from the scene. Police sources said so far 78 people have lodged complaints. The victims had approached Gautam Budh Nagar SSP Preetinder Singh. On the SSP's direction, an FIR was lodged with Phase 3 police.

Dinesh, an investor, living in Rohini's Sector 15 said the developer company had its office in Noida's Sector 63. It had advertised in newspapers to develop plots in Haridwar and Vrindavan. "The company had claimed to develop 300 plots in Haridwar and 300 plots in Vrindavan. I had invested money in 2012. In the beginning of first three months, the investors had to pay 40% of the total cost of the plots. We had already paid the money and rest of the payment was being done in monthly installments," he said. Dinesh said most of the investors had paid almost all installments, including Rs 30,000 and Rs 40,000 for registration of plots, and were waiting for the possession. Right before the possession, the developer company closed its office and all staff members disappeared from Noida.

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