News & Views on Indian Real Estate

Tuesday, August 05, 2008

23 People have been duped of Rs 40 Lakh for Mhada Flats

Powai Police in Mumbai have arrested two persons for duping 23 people of Rs 40 lakh. Ms Priyanka alias Priya Sanjay Patil, 41 and Mr. Kanucharan Raghunath Mishra, 58, were arrested last week from their residences in Mhada colony in Powai. According to the police, the duo cheated innocent people by promising them that they could get flats in Mhada buildings on payment of a certain amount. To prevent this in future, the police have cautioned home-seekers in the city not to deal with brokers or agents while hoping to get flats in buildings developed by Maharashtra Housing and Area Development Authority (Mhada).

Manish said...

How does a common man protect oneself from such frauds??Is there any way/things which one should keep in mind while investing in property?
what is the correct procedure to buy properties.

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