Gurugram police on Friday arrested Dhruv Dutt Sharma, director of 32nd Milestone (also known as 32nd Avenue), for allegedly defrauding buyers of around Rs 500 crore. Sharma is accused of selling a single floor of a building to more than 25 individuals.
The accused was produced in a city court and sent to six days of police remand. Investigations by the Gurugram Economic Offences Wing revealed that Sharma, along with his associates, had carried out the alleged scam between 2021 and 2023.
The Fraudulent Property Deal
In 2021, Tram Ventures Private Limited filed a complaint against 32nd Milestone Vistas Private Limited (formerly Apra Motels). The complainant claimed that Sharma’s company had offered Unit No. 24, a 3,000 sq. ft. floor, for Rs 2.5 crore.
After the payment was made in September 2021, the conveyance deed was never executed in favour of the complainant company. Despite repeated requests and notices sent in October 2023, Sharma’s company failed to respond.
Investigations later revealed that the same floor was allegedly sold to 25 other buyers, and leases were taken from all 25 individuals for 30 years under another firm, Growth Hospitality Private Limited.
FIR Registered and Arrest Made
Based on the complaint, police registered an FIR at the Civil Lines police station. Following the investigation, Dhruv Dutt Sharma, a resident of DLF Camellias, Civil Lines, was arrested.
A spokesperson for Gurugram police said, “During preliminary investigation, Sharma revealed that he and his associates had finalised a deal in 2021 for the first floor of 32 Milestone Building for Rs 2.5 crore. The conveyance deed was not executed, and the same floor was later sold to 25 other individuals.”
The interrogation of Sharma is currently ongoing.
This case has sent shockwaves across real estate sector, highlighting the risks of property fraud and mismanagement in commercial deals. Buyers are urged to verify conveyance deeds and agreements before investing in property.
Inputs from PTI
