Merit Ventures Pvt Ltd accused of defrauding buyers in low-cost housing scam

A real estate firm in Coimbatore, by the name of Meritt Ventures has allegedly scams residents of several lakh rupees on the pretext of offering them low-cost housing and villas. The company began selling fake plots in 2019 with the help of its director N Vijayakumar. The director is said to have accompanied several individuals to supposed ‘site visits’ before taking bookings and collecting advances from these unsuspecting buyers.

Victims allege that the company used the help of social media and online marketing to portray themselves as a legitimate established dealing with real estate. Meritt Ventures had a front office on Raja Annamali Road in Saibaba Colony where it met with prospective buyers to sell plots. The company lured people in with the promise of low procurement and construction costs. All alleged plots that the claimed to sell were said to be present on the outskirts of the city, making it difficult for buyers to identify them easily.

After collecting various sums of money from people the company neither handed over the plot to the buyer nor did it offer to refund the money. Additionally, investors that persisted for a refund were threatened and faced intimidation by representatives of the company.

The aggrieved home buyers eventually sought help from the assistant commissioner of police Mr Maheswaran. More than twelve people who were cheated by the real estate firm in Coimbatore lodged a complaint with the assistant police commissioner seeking help to receive the money they had invested. The petitioners claim to have been cheated collectively of over Rs 30 lakhs.

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Merit Ventures Pvt Ltd accused of defrauding buyers in low-cost housing scam

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