Rs 175 Crore Scam Shakes Navi Mumbai Realty
• Creative Homes Hit by Mega Construction Fraud
• Belapur High-Rise Turns Into Financial Trap
• Real Estate Rip-Off in Sector 15 Exposed
Unmesh Gujarathi
Sprouts News Exclusive
Contact: +91 9322755098
Sprouts News Exclusive
Contact: +91 9322755098
A massive Rs 175 crore real estate fraud has surfaced in Navi Mumbai’s CBD Belapur Sector 15, involving Creative Homes developers. The scam, linked to the construction of an 11-storey commercial building, includes forged contracts and fund diversion. Sprouts News reports that police and regulatory authorities have launched a full investigation.
Contents
- Rs 175 Crore Scam Shakes Navi Mumbai Realty
- • Creative Homes Hit by Mega Construction Fraud
- • Belapur High-Rise Turns Into Financial Trap
- • Real Estate Rip-Off in Sector 15 Exposed
- Creative Homes Developers File Complaint Amid Mounting Losses
- Luxury Project Became a Trap for Fraud
- Regulatory Oversight Under Scanner in Mega Real Estate Scam
- Also Read: Dharavi Park Row: Adani’s Land Grab Sparks Outrage.
- Sprouts News Calls for Policy Reforms and Investor Safeguards
In a shocking revelation, a criminal case has been registered in Navi Mumbai involving a massive Rs 175 crore real estate fraud during the construction of an upscale commercial high-rise. The incident centers around an eleven-storey commercial building located in CBD Belapur, Sector 15. Developers of Creative Homes, the company responsible for the project, have alleged large-scale financial deception linked to the construction.
According to police sources, documents related to project funding, contractor agreements, and land permissions are under scrutiny. Investigators suspect the misuse of funds through forged contracts, inflated bills, and shell transactions that enabled the siphoning of massive capital. The accused entities reportedly exploited regulatory loopholes and diverted investor funds under false pretenses.
Creative Homes Developers File Complaint Amid Mounting Losses
The developers of Creative Homes have formally filed a police complaint after discovering severe irregularities in the financial execution of the project. Internal audits reportedly revealed multiple discrepancies in contractor payments and material procurement records. Preliminary estimates peg the embezzled amount at over Rs 175 crore, making this one of the largest real estate scams in recent Navi Mumbai history.
Sprouts News has learned that multiple individuals and firms involved in the supply chain are also under the scanner. Authorities have started summoning key stakeholders for questioning, and forensic accounting experts have been roped in to trace the money trail. Officials are also examining whether financial institutions inadvertently enabled the scam through lax due diligence.
Luxury Project Became a Trap for Fraud
The building, marketed as a premier commercial hub in Navi Mumbai’s growing central business district, was pitched to investors as a high-return realty asset. However, insiders now say the project served as a façade for systematic fraud. Creative Homes’ brand name was used to draw in capital from prospective investors, many of whom now face uncertainty over project completion and financial recovery.
A senior RERA (Real Estate Regulatory Authority) official confirmed to Sprouts News that the project is being reviewed under Section 31 of the Maharashtra RERA Act, which allows for complaint redressal in cases of delayed or misrepresented real estate development. Legal experts suggest affected investors may soon seek restitution under both civil and criminal statutes.
Regulatory Oversight Under Scanner in Mega Real Estate Scam
This fraud has once again cast a spotlight on regulatory lapses in India’s booming commercial construction sector. Real estate watchdogs are under pressure to tighten checks on project fund flows, third-party contracting, and approvals from urban development authorities. In this case, officials are probing how such a massive diversion of funds could occur without triggering alerts from financial monitoring agencies.
According to a local real estate analyst, “This scam highlights how even reputed developers can fall victim when internal financial controls are weak. The absence of transparent escrow systems and regular third-party audits often allows such fraudulent activities to escalate unchecked.”
Also Read: Dharavi Park Row: Adani’s Land Grab Sparks Outrage.
Sprouts News Calls for Policy Reforms and Investor Safeguards
With investor confidence shaken, Sprouts News urges urban policymakers to strengthen financial vetting and real-time monitoring of large-scale real estate projects. Builders and contractors must be brought under stricter digital compliance systems to prevent manipulation of records. There is also growing demand for a public disclosure platform where investors can track the status of commercial developments.
As investigations continue, the Navi Mumbai police have assured swift action and pledged to bring the culprits to justice. Forensic audits, financial trails, and property-related evidence are now central to the probe.
• For ongoing updates on this Rs 175 crore Navi Mumbai construction fraud, follow Sprouts News – your trusted source for investigative urban development reporting.
