Two Delhi-based builders arrested for cheating home-buyers of Rs 29 cr

New Delhi [India], November 12 (ANI): The Economic Offences Wing of the Delhi Police has arrested two Delhi-based builders for allegedly cheating more than 250 home-buyers of more than Rs 29 crores, the police said on Thursday.
According to the police, the two accused persons of Aerocity Dwarka Multi-State CGHS Limited Society were cheating home-buyers under the garb of land pooling policy of the Delhi Development Authority (DDA).
“An amount of only Rs 6.75 crores was utilised for the purchase of land, while the remaining amount of approximately Rs 22.25 crores was misappropriated and siphoned off to various other entities,” the EOW said in a statement.
The police said that the accused persons cheated around 250 buyers of more than Rs 29 crores by inducing and misrepresenting to them that their upcoming project is duly licenced by the DDA. (ANI)