They had paid between Rs 10 lakh and Rs 20 lakh as advance amount to Dreamz Infra India Limited, a real estate firm involved in projects like Dreamz Saakar and Dreamz Sneha in the city. After the company published an advertisement three years ago, many investors from across the country contacted the builder and paid advance amount, said Manjunath A M who had paid the money in 2014.
“Officials from the firm took us to BTM Layout, Mahadevapura, JP Nagar and other places to show vacant plots claiming they have purchased land and would soon start construction of apartments. But they have made no purchase so far,” Manjunath said.
Prabhakar, an IT professional who has paid for a flat at Horamavu, said: “They showed me model flats on Old Madras Road saying the construction is still under way. They pressurized me into booking a flat saying the rates would go up soon. But later realizing that there’s no point in waiting, I tried to cancel my booking, but the documents they had given me were fake.”
Madiwala police have arrested Sachin Naik who claims to be a partner in the company. “As per records, Disha Choudhary is the managing director, but we are not sure where she is now. Two teams have been formed to trace her,” police said.
Credits ET Realty