Archive · 28 Jul 2026
Mumbai Police Probe Alleged ₹42.96-Crore Chinchpokli Redevelopment Fraud
In Mumbai, the police are investigating a big fraud case involving a housing project in Chinchpokli.
A company called Siddhivinayak Construction and its directors are accused of cheating a housing society and its tenants.
They allegedly sold flats meant for the tenants and took loans against them without permission.
The society says the company didn't pay rent and other bills, causing problems for the tenants.
The police are looking into the case to find out what really happened.
Mumbai Police have registered an FIR against Siddhivinayak Construction and others for alleged fraud in a Chinchpokli redevelopment project.
The developer is accused of selling 33 rehabilitation flats and three reserve units meant for tenants to third parties.
Loans worth ₹37.80 crore were secured against these properties in connivance with financial institutions.
The developer allegedly failed to pay ₹2.80 crore in transit rent and ₹2.36 crore in municipal dues.
The project was completed in 2017 but the developer did not obtain the mandatory Occupation Certificate.
- Who
- Siddhivinayak Construction Pvt. Ltd., its directors, 13 flat purchasers, and 9 financial institutions
- What
- Alleged fraud in a redevelopment project involving the sale of rehabilitation flats and securing loans against them
- When
- FIR registered in 2026, project started in 2002, completed in 2017
- Where
- Chinchpokli, Mumbai
- Why
- To allegedly cheat the housing society and its tenants of ₹42.96 crore
Developer's Perspective
Society's Perspective
Sale of Rehabilitation Flats
Developer's Perspective
The developer claims the sale of flats was necessary to fund the project and that the transactions were legal.
Society's Perspective
The society alleges the sale was illegal and violated the redevelopment agreement, depriving tenants of their rightful flats.
Financial Obligations
Developer's Perspective
The developer may argue that financial constraints prevented them from meeting all obligations.
Society's Perspective
The society insists the developer failed to pay transit rent and municipal dues, causing financial burden on tenants.
- Total Amount Involved
- ₹42.96 crore
- Number of Buildings
- 4
- Number of Tenants
- 126 residential, 25 commercial
- Loans Secured
- ₹37.80 crore
- Unpaid Transit Rent
- ₹2.80 crore
- Unpaid Municipal Dues
- ₹2.36 crore
- Occupation Certificate Status
- Not obtained
- TDR Benefits
- ₹15 crore