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Deepak Bhati, a resident of Sector Delta-1, has filed a complaint against Omaxe Ltd for cheating him of the possession of a shop he had booked in 2017 at the Omaxe Connaught Place Mall in Greater Noida. The developer had assured him of possession within two years, but even after six years, Bhati did not receive the possession. Bhati had paid over Rs 26 lakh for the shop on the ground floor of the mall and was given an offer letter by the builder, but the possession was delayed repeatedly.
When Bhati filed an RTI query, he found out that nearly 170 of the proposed 1,000 shops in the mall's original layout were not approved by the Greater Noida Authority, including the one he had booked. Bhati then approached the district court, which ordered an FIR against nine people, including the Chairman, Managing Director, and four directors of Omaxe Ltd, on charges of cheating, criminal breach of trust, and forgery.
Bhati says he had not received possession of the shop despite repeated requests to the builder, and action was taken only after he approached the district court. The police recorded his statement and will question the accused party in a day or two. According to media reports, the FIR has been registered at the Sector Beta-2 police station on April 1 following the district court's order.
The case against Omaxe Ltd is not the first of its kind. There have been several cases of real estate developers in India being accused of cheating and fraud. One such example is the Unitech Group, which faced allegations of cheating homebuyers and investors by delaying possession of their properties and failing to complete construction projects. Another example is the Amrapali Group, which was accused of cheating buyers by diverting their money to other projects and failing to complete their properties on time.
In both cases, the developers were booked under various sections of the Indian Penal Code and the Real Estate (Regulation and Development) Act, 2016. The authorities also took steps to auction their properties to recover the money owed to homebuyers and investors.
The real estate industry in India has faced scrutiny in recent years due to a lack of transparency and accountability, as well as the prevalence of fraud and cheating. The government has introduced several measures to regulate the sector, such as the Real Estate (Regulation and Development) Act, 2016, which seeks to protect the interests of homebuyers and investors and promote transparency in real estate transactions.
However, despite these measures, cases of cheating and fraud continue to be reported in the real estate sector. This highlights the need for stronger enforcement of regulations and more effective mechanisms for addressing grievances of homebuyers and investors.
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