A gang in Ludhiana is cheating on a large scale in the name of real estate investment in Dubai. Many members have escaped after depositing crores of rupees from traders. The police have not yet received any written complaint.
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The trend of investment in Dubai’s real estate has increased rapidly for the last two years. Investors have increased the trend due to zero tax and absence of regulatory obstacles in Dubai. There is no tax on purchasing property and there is no government control.
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Investors are absconding by depositing money from traders
Dubai’s leading real estate companies are coming to Ludhiana and making attractive offers. They are offering only 10-15 percent advance payment of property price and 1 percent payment per month of the remaining amount. Due to these proposals, many people are coming forward for investment.
However, some fraudulent gangs are taking advantage of this situation. They are absconding by depositing money from big traders. The victims are now expressing their displeasure on social media.