Rs 50 Crore Bengaluru Property Scam: Catena Homes Owner Arrested in Ahmedabad
In a major breakthrough in the Bengaluru real estate fraud case, the Criminal Investigation Department (CID) arrested the owner of Catena Homes from Ahmedabad, Gujarat. The arrest comes months after hundreds of homebuyers accused the developer of cheating them of more than Rs 50 crore through fake property promises and forged documents.
The case, which gained widespread attention in Bengaluru’s real-estate community, was originally filed with the city police in September. Following the large number of complaints, the investigation was swiftly handed over to CID.
How the Catena Homes Scam Unfolded
According to complainants, Catena Homes allegedly offered attractive pre-launch residential projects in and around Bengaluru, promising quick approvals, premium amenities, and early-bird discounts. Many victims paid booking amounts, instalments, and documentation charges based on these claims.
However, investigations later revealed that:
The advertised properties were not legally owned or approved
Multiple buyers were sold the same units
Documents provided were forged or fabricated
Funds collected were diverted for personal use
This created panic among hundreds of families who had invested their lifetime savings.
CID Traces and Arrests Owner in Gujarat
After receiving mounting complaints, CID formed a special team to trace the accused, who had been absconding. The team tracked him to Ahmedabad, leading to his arrest. Officials are now verifying financial transactions, assets, and potential accomplices involved in the scam.
CID officials are also identifying additional victims who may not have filed formal complaints yet.
Impact on Homebuyers in Bengaluru
The scam has highlighted rising concerns about fraudulent builders and unauthorized pre-launch offers in Bengaluru’s booming real-estate market. Many victims have urged authorities to strengthen the verification process of new housing projects.
This case has quickly become one of the most talked-about real-estate scams in the region, contributing to its rapid trending and fast indexing on Google.
FAQs
1. Who is the owner of Catena Homes?
The arrested individual is the owner of Catena Homes, who has been accused of orchestrating the Rs 50 crore property scam in Bengaluru.
2. How many people were affected by the Catena Homes scam?
Hundreds of homebuyers filed complaints alleging they were cheated through fake property offers and forged documents.
3. Which department is handling the investigation?
The case was transferred to the CID after its scale and complexity increased.
4. Where was the accused arrested?
He was arrested in Ahmedabad, Gujarat, after being traced by CID officials.
5. What should homebuyers learn from this incident?
Buyers must check RERA registration, verify land documents, and avoid paying money for pre-launch projects without approvals.
source credit : Express News Service
Published on : 25TH November
Published by : SARANYA
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