2 Mohali developers booked for duping investors of Rs.2.18cr
Mohali, Sept. 17 -- The Sohana police have booked two real estate developers after multiple homebuyers accused them of delaying flat possession despite taking Rs.2.18 crore in all as booking amounts.
The case has been registered at the Sohana police station against Pradeep Kumar and Amarjeet Singh, owners of Geetu Construction Pvt Ltd, whose housing project is located in Sector 113, Landran.
Construction began in 2023, but has now come to a complete halt. Despite collecting crores as booking amounts, the company abandoned the project midway, the complainants alleged.
Amrik Singh, a resident of Police Colony, Phase 8, lodged the first complaint. He stated that in April 2023, he booked two flats of 230 square yards each with the company, one in his wife Jaspal Kaur's name.
The total cost of the two flats was Rs.41 lakh, out of which he paid Rs.27 lakh in cash and Rs.14 lakh through online transfer. However, over two years later, the company had yet to complete construction and hand over possession.
Similarly, Amar Singh also booked a flat with the company in April 2023 by paying Rs.1 lakh as booking amount. The flat was priced at Rs.73.50 lakh, and over time, he deposited Rs.14.75 lakh with the firm. As per the agreement, the possession was to be handed over by June 30, 2024. Later, he was asked for additional payments and ended up transferring Rs.40.74 lakh and Rs.56,000 in July 2023.
The company then signed another "assured return agreement" with Amar, promising him a monthly return of 1% (Rs.56,000) against an investment of Rs.56 lakh. In October 2023, the firm issued a demand letter asking him to pay 5% GST (Rs.2.80 lakh), which also he deposited. In total, Amar paid Rs.58.80 lakh, but he neither got the flat nor a refund.
In another complaint, Prashant Dutt, a resident of Pathankot, said he had booked a flat in the same project and paid Rs.18 lakh as booking amount. However, he too had not received possession or his money back.
According to police investigations, the accused collected a total of Rs.2.18 crore from several buyers under the pretext of flat bookings and investments. On the basis of the complaints, a case has been registered against the owners of Geetu Construction Pvt Ltd for cheating and fraud....
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