Couple Vanishes After Cheating Engineer’s Family of Rs 1.28 Crore in GIFT City Land Deal

A mechanical engineer from Tragad has filed a police complaint after allegedly being cheated of Rs 1.28 crore by a couple who promised high returns on investment in a GIFT City land project. The accused, Kanaiyalal Patel and his wife Sudha Patel, are currently absconding.

Ravindra Prajapati, who works in a private firm, approached Sabarmati police on Friday after repeated attempts to recover his money failed. According to police officials, Ravindra’s initial contact with the couple was through his wife, a school teacher, who knew the Patels personally.

Kanaiyalal Patel had introduced himself as a partner in a reputed firm dealing in land projects. He initially informed Ravindra about residential schemes in Tragad and Chharodi, which prompted Ravindra to buy three flats in the Vishakha Eliana scheme in Tragad in 2021.

As the two families became closer, Kanaiyalal then claimed that he had purchased a large stretch of land in GIFT City. He said the land was to be divided into plots for sale and was actively seeking investors to join the project. Promising attractive returns, he convinced Ravindra and his relatives to invest a total of Rs 2.53 crore over time.

However, the promised land plots remained unsold, and when Ravindra demanded a refund, Kanaiyalal offered only two shops and some cash as partial repayment. Despite these assurances, Kanaiyalal failed to pay the remaining balance. Furthermore, cheques issued by the couple bounced, deepening suspicion about their intentions.

Left with Rs 1.28 crore unpaid, Ravindra finally decided to register a formal complaint. The Sabarmati police have taken cognizance of the case and have launched an investigation. A search is currently underway to locate Kanaiyalal and Sudha Patel.

The incident highlights the risks associated with investing in real estate schemes promoted by unverified parties. Authorities have urged investors to exercise caution and verify all documents and credentials before making large investments.

Sabarmati police have appealed to anyone with information regarding the accused to come forward and assist in the ongoing investigation.

AM.