Property fraud cases on the rise in Gurgaon
The real estate sector in National Capital Region is booming fast due to which, from millennium city, it has turned into a haven for property fraudsters.
From past five years the property fraud cases have increased by about 35 percent in every single year in Gurgaon. The record is crossing the limits day by day, from 150 cases in 2011 it has increased to 205 last year.
Properties which have no mortgage or the owner lives abroad are being targetted. Fraudsters try to forge the actual documents or impersonating as the registered owner and attempt to acquire the ownership of the property.
The ratio of people who are becoming victims of this cases are increasing day by day. They get duped by developers and sell of their properties in the prelaunch scheme and they do not even get the possession of the land or residential apartment. Only after paying a good amount of money, the victims realises that they are being cheated.
Almost 38 cases are being registered in the city last year where the buyers were made to sign the agreement even before the build could possess the land for development. The buyers are attracted to these schemes and the realtors increase the property prices high as soon as the construction starts and this hike is never mentioned in the agreement presented to the buyers.
The victims of the property frauds allege the police and refuses to register their cases. More than 50 percent of the cases those are registered last year have forged documents used for registry and also for raising loan for buying properties.
The city police commented that they will take strict action against the fraudsters and advice the investors to the check and re-check the documents before purchasing any property.
Click here for related forum discussion
Related Real Estate News:
Logix Group launches first residential project in Noida expressway
Government departments targeted for tax defaulting
Image courtesy of phanlop88 at FreeDigitalPhotos.net
buy property in gurgaon, Delhi, Delhi NCR, Delhi Property, Gurgaon property, new property in gurgaon, properies in Gurgaon, Properties in Delhi, properties in gurgaon, property fraud cases, property fraudsters, Real estate in India, Realty News, residential property gurgaon
