A significant real estate fraud in Gurugram has emerged, causing widespread concern among local investors and residents. The matter came to light with the arrest of Dhruv Datt Sharma, the CEO and founder of the popular commercial hub '32nd Avenue.' According to the police, this is a well-planned and large-scale fraud, estimating over ₹500 crore involved. The case highlights alarming practices where a single commercial unit was sold to multiple investors under false assurances of guaranteed rental returns.

Investigations reveal that Sharma misappropriated the hard-earned savings of investors, channeling funds into luxury projects and personal luxuries instead. The Economic Offenses Wing (EOW) is currently investigating the entire money trail, presenting a complex web of deceit. Dhruv Datt Sharma is in police custody for six days, which is expected to lead to further shocking revelations in this ongoing investigation regarding his fraudulent activities and the broader implications for the real estate market in Gurugram.

The situation emphasizes the vulnerability of property investors in the region and raises critical questions about regulatory oversight in the real estate sector. As the investigation unfolds, it also serves as a crucial reminder for investors to exercise caution and due diligence when engaging in property transactions, especially with unverified builders and developers within the booming Gurugram market.