News Analysis

Builder forges documents for construction of residential complex

In yet another instance of a builder taking investors for a ride, a recent news article states Vatika Group was booked in January 2015 for developing a residential township without obtaining a license for the project.

The article references an FIR which claims “the company submitted forged documents and acquired the license (no. 94/2013) to build the residential complex on the land, 7.5 acres of which is owned by four farmers”.

An investor has filed the FIR against the MD alleging a fraud of Rs. 1 crore due to delays in delivery of a Villa. Given the nature of the fraud, we are sure to hear about others who probably put their life’s savings for their Villas.

When investing your hard earned money in any project, PropertyChek strongly recommends that you check the builder has title and approvals to construct the property

We, at PropertyChek, conduct legal due diligence of properties, where we check the property title by verifying the actual government record in the registrar’s office to ensure the seller (whether builder or individual seller) has an authentic, clean title.

Read the entire news article here.

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