+
EOW registers FIR of cheating against Noida's Prateek Group
Real Estate

EOW registers FIR of cheating against Noida's Prateek Group

The Economic Offences Wing (EOW) of Delhi Police has registered an FIR against the owners and senior management of Prateek Group, a Noida-based real estate company, following allegations of fraud by 20 homebuyers. The complaint, filed by buyers of Prateek Edifice in Sector 107, names owners Prashant and Prateek Tiwari, along with senior managers Sunil Kumar Mittal and Anshuman Sharma.

According to the police document, the developers orchestrated a fraud amounting to over Rs 1.9 billion. The complainants allege that the 423 flats sold in Edifice were 10-12% smaller than what they had been charged for.

"The flats delivered to us were significantly smaller in size than what was promised. An architect conducted a survey after we approached the National Consumer Disputes Redressal Commission (NCDRC). Additionally, the developers carried out unauthorized construction beyond the sanctioned plan," said Rajeev Goyal, a complainant.

Prateek Group is also accused of collecting Rs 128 million as one-time lease rent from flat owners, while the amount payable to the Noida Authority was only Rs 64 million. The buyers claim the developer did not pay the amount to the Authority and delayed the handover of flats. Goyal mentioned that the flat he booked in April 2012, promised for delivery in December 2015, was handed over only in February 2019, despite having paid 95% of the total cost by May 2016.

"We eventually received possession after NCDRC's intervention, but many promised facilities and amenities were not delivered. There were numerous defects and deficiencies in workmanship, construction, and fittings," Goyal added.

The FIR further alleges that Prateek Group collected over Rs 90 million from flat owners as Interest-Free Maintenance Security (IFMS) but did not refund this amount to the association of owners despite notices from the Authority. The developer also charged more for grid electricity, meter connection, WiFi, cooking gas security, and sewer connections. Additionally, the builder charged Rs 188 million for purported water charge arrears.

The complainants accused the company of misusing prepaid sub-meters installed in flats to illegally recover charges for water and electricity. A spokesperson for Prateek Group stated that they had not yet received any communication from the police and noted that the flat owners who lodged the complaint have already been given possession. "Further action will be taken once we receive all the information," the spokesperson added.

(Source: ET)

The Economic Offences Wing (EOW) of Delhi Police has registered an FIR against the owners and senior management of Prateek Group, a Noida-based real estate company, following allegations of fraud by 20 homebuyers. The complaint, filed by buyers of Prateek Edifice in Sector 107, names owners Prashant and Prateek Tiwari, along with senior managers Sunil Kumar Mittal and Anshuman Sharma. According to the police document, the developers orchestrated a fraud amounting to over Rs 1.9 billion. The complainants allege that the 423 flats sold in Edifice were 10-12% smaller than what they had been charged for. The flats delivered to us were significantly smaller in size than what was promised. An architect conducted a survey after we approached the National Consumer Disputes Redressal Commission (NCDRC). Additionally, the developers carried out unauthorized construction beyond the sanctioned plan, said Rajeev Goyal, a complainant. Prateek Group is also accused of collecting Rs 128 million as one-time lease rent from flat owners, while the amount payable to the Noida Authority was only Rs 64 million. The buyers claim the developer did not pay the amount to the Authority and delayed the handover of flats. Goyal mentioned that the flat he booked in April 2012, promised for delivery in December 2015, was handed over only in February 2019, despite having paid 95% of the total cost by May 2016. We eventually received possession after NCDRC's intervention, but many promised facilities and amenities were not delivered. There were numerous defects and deficiencies in workmanship, construction, and fittings, Goyal added. The FIR further alleges that Prateek Group collected over Rs 90 million from flat owners as Interest-Free Maintenance Security (IFMS) but did not refund this amount to the association of owners despite notices from the Authority. The developer also charged more for grid electricity, meter connection, WiFi, cooking gas security, and sewer connections. Additionally, the builder charged Rs 188 million for purported water charge arrears. The complainants accused the company of misusing prepaid sub-meters installed in flats to illegally recover charges for water and electricity. A spokesperson for Prateek Group stated that they had not yet received any communication from the police and noted that the flat owners who lodged the complaint have already been given possession. Further action will be taken once we receive all the information, the spokesperson added.(Source: ET)

Related Stories

Gold Stories

Next Story
Infrastructure Transport

Mumbai-Ahmedabad Bullet Train’s Surat-Vapi Section Set for 2027

The first section of the Mumbai-Ahmedabad Bullet Train corridor, linking Surat and Vapi, is targeted to begin services in 2027. Construction is expected to be completed by December 2026, while Railway Minister Ashwini Vaishnaw has indicated that an inauguration could take place around the middle of 2027. The National High Speed Rail Corporation (NHSRCL) said the train being manufactured in India is expected to reach the tracks around April or May 2027. The train will undergo extensive testing before the section is opened for passenger services. The project began construction in 2021 and includ..

Next Story
Infrastructure Transport

Indian Railways Approves Four Projects Worth Rs. 7.36 bn Across Four States

Indian Railways has approved four projects with a combined value of Rs. 7.36 bn across Uttar Pradesh, Maharashtra, Andhra Pradesh and Gujarat. The programme covers train protection, signalling, electric traction supply and a road overbridge, with each project assigned to a different railway zone. In Uttar Pradesh, Rs. 2.52 bn has been approved to extend the Kavach 4.0 automatic train protection system across 607.7 km in the Lucknow Division of North Eastern Railway. The system monitors train movements and can apply the brakes if a driver fails to observe a signal or exceeds a safe speed. The w..

Next Story
Infrastructure Urban

Chandru Raheja Sells 1.49% Stake in Mindspace REIT for Rs. 5 bn

Billionaire Chandru Lachmandas Raheja has sold a 1.49 per cent holding in Mindspace Business Parks REIT for Rs. 5 bn through a bulk deal on the BSE. The transaction involved 9.9 mn units and was executed at an average price of Rs. 505 per unit, according to exchange data. Following the sale, units of Mindspace Business Parks REIT were trading 0.18 per cent lower at Rs. 504.05 on Tuesday. Exchange data did not identify the buyers involved in the transaction. Raheja is the chairman of real estate company K Raheja Corp. The sale involved 99,00,990 units, representing 1.49 per cent of the Mumbai-b..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code