News Analysis

25,000 duped in real estate fraud in Rajasthan

A recent newspaper report claims 25,000 investors were duped of their hard earned money by developers in Alwar. The developers took the money and then also sold the land to some other developers. The victims did not get the money back or get their purchased assets. Apparently, the site is not under the purview of the Department of Urban Development since a map has not been sanctioned and no construction has taken place on the site in the past five year.

If I had to speculate a bit on what happened, my guess would be the developers did not get the proper approvals to start construction at the site – which has led to the issues and duping of investors.

In order to protect you from a fraud like the one that may have been caused from lack of construction approvals, , we have created an easy on-demand service that checks project approvals like commencement certificated using experienced real estate lawyers. Check our sample reports to find out content of our reports

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