First Application Filed Against Ahmedabad Runaway Broker
<span style="font-weight: 400;">Days after property broker Ashesh Agrawal disappeared, duping builders and investors of a large chunk of money, the first application accusing him of fraud and breach of trust has been filed with the Bopal police by a Vejalpur resident.</span> <span style="font-wei
Published -
Jun 1, 2021 4:51 AM
Days after property broker Ashesh Agrawal disappeared, duping builders and investors of a large chunk of money, the first application accusing him of fraud and breach of trust has been filed with the Bopal police by a Vejalpur resident. Ashish Patel, a resident of Jyoti-Jalaram-Society in Vejalpur, has said in his application with Bopal police that he knew Ashesh Agrawal as a property broker. Patel apprised him of a Sun Gravitas scheme near Shyamal Crossroads. The property was under construction at that time. He signed a deal with Agrawal for buying an office in the property at a price of Rs 3,500 per square feet. According to the application filed, whenever Patel asked Agrawal about the property agreement (banakhat), which is mandatory under RERA rules, Patel would cite one or the other reason to postpone it. Agrawal went missing on May 18, after collecting crores from builders and property investors. He continues to evade cops. Ashesh used to negotiate deals with builders and then bring investors to buy their properties. He is believed to have struck deals with investors on behalf of builders, who gave him exclusive selling rights. Realty experts aware about the development said he excelled at selling properties during the soft launch phase. It is to be note, that after the state government formed Gujarat Real Estate Regulatory Authority (GUJRERA), many developers have found an illegal route of doing soft launch of their projects with the help of property brokers. Since it doesn’t come to the notice of GUJRERA, silently sell a project even before it gets clearance from authorities like RERA, AMC and AUDA. It is alleged that Agrawal had duped investors by convincing them to put their funds in non-existent construction schemes. He is also alleged to have negotiated deals with developers to bring in investors, and then embezzled a sizeable amount. Agrawal’s alleged fraud came to light when buyers and investors approached the builders, asking for their money.
Tags : News/Views Ahmedabad Filed First Application Runaway Broker