Mumbai diamond trader cheated of ₹2.7 cr in property deal; developers booked

An offence has been registered against a city-based developer and his son for allegedly duping a diamond trader of ₹2.7 crore in a property deal, police said on Saturday. The complainant in the case has claimed that he had paid the father-son duo 2.7 crore for a flat in a redevelopment project in 2016, and he still hasn't received possession of the property, an official said.

The complainant alleged that he had paid ₹2.27 crore out of the total ₹3.1 crore to purchase a 1,876 sq ft apartment in a housing society in Vile Parle and was given an allotment letter, which stated that the property will be handed over to him by December 2018, he said. In 2019, one of the accused informed the complainant that the said flat had been sold to another buyer and he was offered another flat in the building.

However, he did not keep his end of the deal and failed to return the money, the official said. A case under relevant provisions of the Indian Penal Code for criminal breach of trust and cheating has been registered against the developers.