Vastushodh’s director & MD arrested for duping home buyers

Later in the day, the police produced Sachin and Nitin before a magisterial court which ordered their remand in police cusotdy till Saturday.

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COMPLAINT FILED-CONSTROFACILITATOR

The Uttamnagar police on Friday arrested Sachin Kulkarni and Nitin Kulkarni, managing director and director of Vastushodh realty firm, respectively, on the charge of duping 18 home buyers of Rs 5.7 crore by failing to deliver possession of flats in a project at Kondhve-Dhavade.

Later in the day, the police produced Sachin and Nitin before a magisterial court which ordered their remand in police cusotdy till Saturday. The firm run by the Kulkarnis made a name for itself a few years ago in the segment of budget housing and had undertaken quite a few projects in the city that offered affordable homes to common citizens.

Erandwane resident Nivrutti Katurde (49), who lodged a complaint in a representative capacity on behalf of all the 18 affected home buyers, told TOI that he had booked a two-bedroom flat in the scheme in 2015.

“The builder had promised to give us possession of flats in three years. For making the down payment and paying the remainder of flat’s price, I had to take loan. I am still paying the EMIs. A lot of construction work is still pending at the site. The land owners are not allowing the workers to go there. We were left with no option but to approach the police,” he added.

Lawyer Hemant Zanzad, who is representing the Kulkarnis, told. “The project was delayed due to a dispute between the land owners. One of them has blocked the road leading to the project site and is not allowing the workers to go there. We told the court that we are in the process of solving the issue and will give possessions to the customers in next six to eight months.”

Deputy commissioner of police (zone-III) Pournima Gaikwad told. “We have arrested the realty firm’s MD and director on the basis of the registered complaint.”