Three men have been arrested for allegedly cheating people to the tune of ₹400 crore by promising them plots under the DDA’s Land Pooling Policy, the police said on Friday. The accused have been identified as Satender Maan, Pradeep Shehrawat, and Subhash Chand.
According to police, the accused were arrested on Thursday.
Forms project
The trio had formed a project called Smart Residency for duping investors in the name of Land Pooling Policy in L-Zone of Dwarka.
The police said that the builders tried to attract homebuyers for investment in lucrative housing schemes in Dwarka.
The Delhi Development Authority said it has not issued any license or approval to Revanta Multi-state CGHS Ltd. and no one is authorised to invite persons to purchase any plot or flat in any project under the land pooling area without any prior registration of the project under the Real Estate Regulatory Authority (RERA), a senior police officer said.
Purchased on high rate
Most of the land was purchased on very high rates, from ₹8 crore up to ₹10 crore per acre, against the circle rate of ₹53 lakh for an acre, the police said.
A total of 16 criminal cases have been registered against various builders and societies for cheating people in the name of the DDA policy, the police added.
