A case has been registered at Khadakpada police station following allegations that homebuyers and members of a housing society in Kalyan’s Chikanghar area were promised flats under a MHADA redevelopment project but have been awaiting possession despite paying substantial amounts.
The complaint concerns the redevelopment of Shantidoot Cooperative Housing Society Ltd in Survey No. 22, Chikanghar, under the MHADA MIG scheme. According to the complaint, the project was awarded to Tycoon Avanti Projects LLP, a joint venture between Tycoon Realty LLP and Seacom Realty Ltd.
Complainant Nanda Prabhakar Mhatre alleged that she paid Rs 39.36 lakh in 2021 for a flat on the 11th floor of the project’s A wing. Possession was expected by July 2025, but the apartment has not been handed over, she alleged.
The complaint states that construction on the sanctioned 29-storey building progressed only up to the 10th floor and has remained stalled since 2022. The delay has reportedly affected both existing society members and new purchasers awaiting their homes.
Another allegation concerns the society’s land, which the complainant claimed was mortgaged to a bank through alleged misuse of the power of attorney granted to the developer.
The complaint further alleges that 184 members of Shantidoot society, along with hundreds of other purchasers, collectively paid more than ₹176 crore towards the project.
The FIR names Shrikant Shitole, Chetan Sharat, Mahesh Gosavi and others. Police said allegations relating to financial transactions, project documents, the land mortgage and funds collected from buyers will be examined during the investigation. Police Inspector Premnath Shete Dhole is supervising the probe.
The Tycoons Group has denied the allegations, calling the claimed Rs 176-crore scam “false and baseless”. It said the FIR followed a customer complaint involving a residential apartment deal of around Rs 40 lakh.
The developer attributed delays to policy-level issues affecting MHADA redevelopment projects in Chikanghar and said the project is RERA-registered. It added that buyers could approach the regulatory mechanism for redressal.
The group also alleged that local opponents were using project delays to target it and said a Central government fund had granted final funding approval. It stated that protests and complaints were creating obstacles and that it would cooperate with the police investigation.
Source: Times of India
