Notorious developer Niraj Mansukhlal Ved, based in Ghatkopar, was arrested by the Pant Nagar police on Sunday night for allegedly cheating homebuyers. The arrest comes after a buyer filed a complaint, accusing Ved of promising an apartment in his newly constructed building, measuring 1620 square feet and valued at Rs. 3.31 crores. Despite taking a total of Rs. 46 lakhs from buyers without any written contract or signed MOU, Ved failed to deliver on his promise to complete the construction by 2023, as assured three years ago.
When buyers sought a refund, Ved and his company reportedly refused to provide any. This incident marks the latest in a series of at least 10 cases registered against Ved for similar offenses at police stations in Bhandup, Tilak Nagar, and Ghatkopar.
Niraj Ved has faced multiple arrests in the past, securing bail on each occasion. Notably, Mumbai Police’s Economic Offences Wing (EOW) had arrested Ved last year for defrauding buyers of Rs. 6.17 crores. In that case, Ved’s wife, Sapna, was also implicated.
Under the guidance of DCP Purushattam Karad (Zone VII), senior police inspector Rajesh Kevale led the arrest, and Ved is set to appear in court today.
