NRI Loses ₹72 Lakh in Flat Purchase Scam

NRI Scammed 72L Rupees in Property Scam

NRI Loses: A 68-year-old non-resident Indian (NRI) doctor, Dr. Mehboob Kapadia, reported a shocking loss of Rs 72 lakh in a real estate scam while attempting to purchase a flat.

The incident dates back to 1995, but Dr. Kapadia only recently discovered the alleged fraud. Serving as the medical director at the Indian Medical Council in Chicago, USA, Dr. Kapadia had booked a flat in the proposed Sagar Elegance building almost three decades ago, making a substantial payment within six months.

NRI Loses 72Lakhs

Due to infrequent visits to India, Dr. Kapadia approached the builder in 2009, only to find out that the promised flat couldn’t be handed over. Frustrated, he lodged a written complaint, leading the builder to offer an alternative flat as compensation.

However, even this assurance turned out to be false, as the elderly NRI discovered that the replacement unit had been registered in someone else’s name back in 2017. Outraged by this revelation, Dr. Kapadia filed a formal complaint with the Bandra police.

The case highlights the vulnerability of NRIs in real estate transactions, especially when unable to oversee the process personally. The police are now investigating the matter to ascertain the details of the alleged fraud and bring justice to the victim, who trusted the builder in good faith over two decades ago.

Also Read: NRIs Urged to Collaborate in Punjab’s Economic Revamp

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