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Mumbai: Builder dupes 4,000 buyers of Rs 250 crore

Developer abandons people after selling homes on industrial plot; citizens waiting to see if MahaRERA will complete project, which it should do under the new law

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The unfinished project in Kharbao, Bhiwandi

The unfinished project in Kharbao, Bhiwandi

From mortgaging gold ornaments to selling ancestral properties, these homebuyers did everything they could to raise funds to invest in a home in an under-construction housing project in Kharbao, Bhiwandi. However, over the last three years, their dream has turned into a nightmare, as the developer has stopped construction, duping over 4,000 buyers and investors to the tune of over Rs 250 crore.

Santosh Bandekar, 52, is cursing himself for not listening to his wife Shweta, a constable at Santacruz police station, who had warned him against investing in this project. Santosh, who recently lost his job, stays with his family in the Mulund police quarters; Shweta is now the breadwinner, earning for the family and their two teenage daughters' education.

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