Delhi loses over 2000 cr for real estate frauds in 2012
Delhi has been witnessing an immense rise in crime rate in the recent times. It has also been observed that along with the number of crime rates, property fraud cases have also been on the rise in the city.
According to the National Crime Records Bureau (NCRB) data, in 2012 alone, the nation’s capital has witnessed a loss of around Rs 2,007 crore in property fraud and cheating cases. This number is the highest compared to other cities or states of India. Meanwhile, people from rest of the states have lost property worth around Rs 1,990 crore.
Only five other areas in the country, including Goa, Tamil Nadu, Maharashtra, Chandigarh and Gujarat, have so far reported frauds involving property worth over Rs 100 crore.
Delhi was followed by Maharashtra, but however, it was not even half the loss sustained by the former. The residents of Maharashtra have lost nearly Rs 660 crore in real estate related frauds in 2012. Tamil Nadu stood in the third position with property cheating cases worth Rs 339 crore. However, the state had reported only nine cases.
Delhi tops in terms of high-end cheating cases too
The people in Delhi were trapped in various types of cheating cases, in which high end cheating cases – the cases involving huge amounts from Rs 1 crore to Rs 100 crore – were on the high last year, against other cities of the country.
The figures reflect the need to strengthen economic offenses wings of police departments to curb the growing number of such crimes.
There are various kinds of frauds related to real estate. For example, builder may be a fraudster, he may make fake promises and run away, or he may not deliver the quality upto the mark, a broker may cheat buyers, guide you wrong for person for his own benefits, and so on.
Classification of high-profile cases
NCRB has classified high-profile cheating cases into five categories on the basis of the value of the property involved in the cases. The first group ranges between Rs 1 to 10 crore, the second between Rs 10 to 25 crore, while the third group ranges from Rs 25 crore to Rs 50 crore. The fourth and fifth groups are Rs 50 to 100 crore and above Rs 100 crore respectively.
Delhi itself stood in the leading position in the list of the second, third, fourth and fifth categories. Around 57 cases were registered under the first category (Rs 1 to 10 crore) while 30 cases were filed under the Rs 10-25 crore group.
The increasing number of property cheating cases is evident of the increasing number of economic offences in Delhi. Although there is a special dedicated wing of Delhi police working on economic offences, it seems not to be sufficiently built up. It has to be strengthened up better to reduce such risks in future.
