{"id":8504,"date":"2025-11-13T07:40:15","date_gmt":"2025-11-13T07:40:15","guid":{"rendered":"https:\/\/housiey.com\/blogs\/?p=8504"},"modified":"2025-11-13T07:41:51","modified_gmt":"2025-11-13T07:41:51","slug":"mumbai-developer-booked-for-100-crore-fraud-102-homebuyers-cheated-in-wadala-project","status":"publish","type":"post","link":"https:\/\/housiey.com\/blogs\/mumbai-developer-booked-for-100-crore-fraud-102-homebuyers-cheated-in-wadala-project","title":{"rendered":"Mumbai Developer Booked for \u20b9100-Crore Fraud: 102 Homebuyers Cheated in Wadala Project"},"content":{"rendered":"

The Economic Offences Wing (EOW) of the Mumbai Police has filed a case against BP Gangar Constructions Pvt Ltd, accusing the developer of duping 102 homebuyers of nearly \u20b9100 crore in a stalled residential project in Wadala.<\/p>\n

According to the police, the developer had promised possession of flats in its ambitious \u2018Skye 31\u2019 project by December 2024. However, despite collecting massive amounts from buyers since 2018, the project has barely progressed beyond the plinth level.<\/p>\n

The complaint, filed by Anil Drone, a 62-year-old chartered accountant from Kandivali, revealed that he had booked a 2-BHK apartment in 2022, only to later discover that the same flat had been sold to another buyer. His statement further alleged that the funds collected from 102 flats were misappropriated and diverted to other firms or for personal use, violating key provisions of the Real Estate (Regulation and Development) Act (RERA).<\/p>\n

Also Read: RERA 2.0: Refunds, Delays, and Buyer Rights in 2025-26<\/em><\/a><\/strong><\/p><\/blockquote>\n

Based on Drone\u2019s complaint, the EOW has registered an FIR against the company\u2019s directors \u2014 Subbaraman Anand Vilayannur and Uma Subbaraman \u2014 along with several unidentified associates, under Sections 406 (criminal breach of trust), 420 (cheating), and 34 (common intention) of the Indian Penal Code.<\/p>\n

The ongoing investigation suggests that BP Gangar Constructions collected money for <\/span>159 flats<\/b>, out of which <\/span>102 were allegedly sold<\/b>, even as the site remains largely incomplete. Police sources confirmed that buyers\u2019 total losses could exceed \u20b9100 crore.<\/span><\/p>\n

This incident adds to a growing list of real estate scams in Mumbai, highlighting the urgent need for <\/span>stricter RERA enforcement and transparency<\/b> in project funding and buyer agreements.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

The Economic Offences Wing (EOW) of the Mumbai Police has filed a case against BP Gangar Constructions Pvt Ltd,…<\/p>\n","protected":false},"author":5,"featured_media":8505,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[70,71],"tags":[3732,3733],"class_list":["post-8504","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest-news","category-mumbai","tag-mumbai-developer-fraud","tag-wadala-homebuyers-cheated"],"acf":[],"yoast_head":"\nMumbai Developer Booked for \u20b9100-Crore Fraud: 102 Homebuyers Cheated in Wadala Project<\/title>\n<meta name=\"description\" content=\"Wadala homebuyers cheated of \u20b9100 crore as Skye 31 project stalls. Mumbai EOW books BP Gangar Constructions for fraud. 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