Real Estate Scam in Ludhiana: Who is Responsible..

Ludhiana : A major real estate fraud has come to light in Ludhiana, where a group of 10 individuals allegedly duped a company of ₹7.61 crore. The fraudsters promised a lucrative land deal in Chandigarh but eventually disappeared with the money. According to police reports, the accused convinced the company’s representatives that they had prime land available for sale at a strategic location in Chandigarh. They showcased fake documents and contracts to make the deal appear legitimate.

The victim company, believing the deal to be genuine, made an initial payment, followed by several other transactions totaling ₹7.61 crore. However, when the company demanded possession of the land, the accused started delaying responses and eventually stopped communication. Realizing they had been deceived, the victims approached the police and lodged a complaint.

Upon investigation, it was revealed that the fraudsters had forged land documents and used fake identities to gain the trust of the investors. Authorities suspect that this is part of a larger real estate scam targeting multiple buyers. The police have registered a case and are actively tracing the accused. They have also warned people to verify property documents thoroughly before making large financial transactions.

Real estate frauds have been increasing in recent years, with scammers using sophisticated tactics to deceive buyers and investors. Experts suggest that buyers should conduct independent verification of property papers, consult legal advisors, and check government records before entering into any real estate deals. The police have assured that strict action will be taken against those involved in the scam and are working to recover the lost funds.

The victims have urged the authorities to fast-track the investigation and ensure justice. The police have also appealed to the public to come forward if they have any information regarding similar scams. Meanwhile, the case serves as a cautionary tale for real estate investors, emphasizing the importance of due diligence before engaging in high-value property transactions.