City Crime Branch Arrests Couple in Real Estate Fraud

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CHENNAI, SEPTEMBER 6: Police from the City Crime Branch (CCB) are investigating an alleged real estate fraud wherein banks sanctioned loans on forged building plan approvals. The CCB on 2 September arrested a couple, who claimed to be real estate promoters in Avadi and cheated 11 employees of Heavy Vehicles Factory (HVF) by producing forged building plan approvals. Benjamin Robert (40), an employee of HVF, Avadi and 11 other colleagues were approached by Thanigaivel, also working at HVF, stating that he has been promoting real estate under the name of Rajalakshmi Builders in a land measuring 24,000 square feet in Kovil Pathagai, near Avadi. They paid an advance amount and Thanigaivel’s wife Rajalakshmi executed a sale deed in favour of the buyers in 2014 and also promised to obtain building plan approvals and also bank loan. The couple then obtained a loan to the tune of Rs. 3 crore from Vijaya Bank and HDFC Bank. While the construction was in progress, they received a notice from Avadi Municipality announcing that they had not obtained building plan approval. A senior officer of CCB said, “We have sought information from the banks as to how they sanctioned loans based on the forged documents”.]]>

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