A Navi Mumbai-based builder has been arrested for allegedly cheating home buyers to the tune of Rs 67.10 lakh by offering them flats at cheap rates, police said on Thursday.

The accused Santosh Kumar Jayprakash Singh (53) had allegedly offered flats in proposed Krishna Complex at Talegaon in Khalapur taluka and collected Rs 67.10 lakh from 64 home buyers between 2013 and 2015, said Pravin Patil, deputy commissioner of police, crime branch of Navi Mumbai.