Punjab Real Estate Fraud: 3 Directors Booked in ₹50 Cr Scam

In a shocking development from Punjab, three directors of a prominent real estate firm have been booked for their alleged involvement in a massive land fraud case. The case has brought the spotlight back on the growing number of complaints against unethical practices in the Punjab real estate market.

The police have launched a detailed investigation into the Punjab real estate fraud after multiple buyers claimed they were cheated by the firm, which promised them residential plots and flats that were either never delivered or already mortgaged.

The Case That Exposed the Fraud

The Punjab real estate fraud case came to light after over a dozen complaints were filed with the Economic Offences Wing (EOW). Buyers alleged that the directors had floated attractive property deals across several districts including Mohali, Zirakpur, and Kharar. These deals promised early possession, clear titles, and modern amenities.

However, many of the promised plots either did not exist or were already under legal dispute. Some victims paid full amounts in advance but never received possession or even registration documents. When approached, the directors reportedly delayed or avoided communication.

Details of the FIR and Initial Action

An FIR was registered against the three directors—identified as Amandeep Singh, Harvinder Sidhu, and Jagroop Gill—under multiple sections of the Indian Penal Code, including cheating, criminal conspiracy, breach of trust, and forgery.

According to the FIR, the accused collected over ₹50 crore from nearly 200 buyers between 2020 and 2024. In most cases, payments were made through legal channels, with buyers given false promises of registration within three months. Several buyers waited for over two years, only to realize they had been conned.

The police have begun gathering property records, bank statements, and legal paperwork to track the trail of fraud in this Punjab real estate fraud. The properties have now been marked, and legal notices are being sent to freeze transactions.

Victims Speak Out

Many of the victims who fell prey to the Punjab real estate fraud are middle-class families who invested their lifetime savings.

Ravneet Kaur, a teacher from Ludhiana, shared her experience:

“We were shown brochures, sample flats, and legal clearances. We even visited the site multiple times. Everything looked fine. But when the possession deadline passed, no one from the company would answer our calls.”

Some buyers alleged that the firm used celebrity endorsements and flashy marketing tactics to win their trust. Large billboards across cities promoted the projects as “RERA-approved” and “Government Certified”, claims which are now under scrutiny.

Real Estate Experts Call for Stricter Oversight

Industry experts say that the Punjab real estate fraud is not an isolated case. Over the past five years, the real estate sector in Punjab has seen several fraud cases due to lack of strict enforcement and monitoring mechanisms.

Rajiv Bansal, a senior real estate consultant in Chandigarh, commented:

“There are gaps in the system. Many developers take advantage of buyers who don’t understand legal documents or RERA guidelines. Punjab needs stricter licensing and better awareness campaigns.”

The Real Estate Regulatory Authority (RERA) in Punjab is now under pressure to reevaluate ongoing projects and blacklist defaulting developers. Sources say that the RERA office has already issued show-cause notices to the firm involved in the latest Punjab real estate fraud.

Legal Experts Warn of Long Legal Battles

Legal experts believe that buyers may have to wait a long time to get justice. Civil and criminal suits could drag for years unless fast-track courts are assigned.

Advocate Manish Grover, who is representing 28 victims in the case, explained:

“We are trying to fast-track the proceedings. But in cases like this, assets are often concealed or moved. Recovery of money will be a challenge unless the police and courts act quickly.”

Some buyers have approached the Punjab and Haryana High Court seeking immediate arrest of the accused and seizure of their personal and company assets.

Government Response and Next Steps

The Punjab government has taken serious note of the Punjab real estate fraud. The Housing and Urban Development Department has called for a state-wide audit of all pending real estate projects.

A senior government official stated,

“We are reviewing how this happened despite existing regulations. A joint task force will be formed with the police, RERA, and municipal bodies to ensure buyer safety.”

Meanwhile, the accused directors are absconding, and non-bailable warrants are likely to be issued if they fail to cooperate in the ongoing investigation.

The EOW has also requested the Enforcement Directorate (ED) to examine if any money laundering angle exists in this Punjab real estate fraud. If confirmed, it could escalate the case to the national level.

Public Outrage and Buyer Caution

The case has sparked public outrage and has gone viral on social media platforms. Many buyers are now urging the public to verify documents through RERA and avoid paying large amounts upfront.

Cybersecurity activists are also demanding that real estate portals carry a warning label or verification check to protect consumers from scams like the Punjab real estate fraud.

Conclusion: Lessons for the Real Estate Sector

This latest Punjab real estate fraud has exposed the urgent need for reform and transparency in the housing sector. While the accused may eventually be brought to justice, the emotional and financial scars left on victims are long-lasting.

As the probe continues, buyers across Punjab are now being advised to check a developer’s track record, verify land titles independently, and avoid deals that seem “too good to be true.”

The Punjab real estate fraud case serves as a harsh reminder that real estate investments demand as much caution and due diligence as any financial transaction. It remains to be seen whether this incident will become a turning point in how Punjab regulates its housing sector.

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