Delhi Police arrested Lokesh Gidwani, a member of the ‘Fantastic Four’ group. They involved in duping home buyers under the false claim of land pooling policy of the Delhi Development Authority (DDA). The group accused of scamming over Rs 29 crore of around 250 investors.
The group misappropriated funds in the name of government housing policy by luring victims of fruitful returns. Similarly according to DDA, no individual entity authorized to advertise, market, book or sell or invite purchase any plot or flat for any project in the name of land pooling. This without registration of the project under Real Estate (Regulation and Development) Act, 2016. On the website, DDA also claims that it has not issued any license or approval to any housing project under the land pooling policy as of date. Therefore t2
his came as a measure to build and provide sufficient houses through proper urban planning for Delhi-NCR.