Pune: Buyers Duped Of Over Rs 5.37 Crore In Fake Real Estate Project In Baner; Three Booked
Baner, 22nd May 2025: A major real estate scam has come to light in Baner, where buyers were duped of INR 5.37 crore under the pretext of purchasing flats and shops in a high-rise project that never materialized. It is informed that the accused misrepresented construction approvals and collected money without carrying out any actual building work.
The complaint was filed by Nikhil Dnyaneshwar Phalak (32), a resident of Hinjawadi, at the Hinjawadi Police Station. According to the FIR, three individuals, including a woman, have been booked for fraud and criminal breach of trust.
Police investigations reveal that the accused had approvals from the Pune Metropolitan Region Development Authority (PMRDA) for a four-storey structure and from the Pimpri-Chinchwad Municipal Corporation (PCMC) for a separate project up to five storeys. However, they falsely claimed to have permissions for a ten-storey development and sold units on various floors—including the second, fifth, ninth, and tenth—to unsuspecting buyers.
Phalak and several other customers paid a total of INR 5,37,55,759 for apartments and commercial spaces. It is reported that the accused issued payment receipts and allotment letters, and verbally promised possession by May 2020. However, no construction was ever initiated, and the funds were neither returned nor were any registered sale agreements executed. Instead, the money was allegedly misappropriated for personal gain, according to the complaint.
The case is currently under investigation by Sub-Inspector Kande of the Hinjawadi Police.
