India, Feb. 12 -- The recent arrest of the owner of a commercial complex in Gurugram for allegedly selling the same property to as many as 25 buyers, has raised serious concerns about due diligence and safeguards for property investors. In this case, the developer allegedly sold a single floor of a building to multiple individuals, even though a deal for the same floor had been finalised with the first buyer in 2021.

The incident underscores the need for investors/buyers to carry out thorough checks before investing in both under-construction and ready-to-move properties.

Dhruv Dutt Sharma, CEO of the firm behind the 32nd Avenue commercial project, was arrested by Gurugram Police in connection with a Rs.500-crore cheating case. The alle...