Gurugram police have arrested Dhruv Dutt Sharma, the founder, CEO and managing director of the 32nd Avenue commercial real estate project, in connection with a major property fraud estimated at around ₹500 crore. Sharma was taken into custody by the Economic Offences Wing (EOW) and produced before a magistrate, who remanded him to six days of police custody as investigations continue. The arrest stems from allegations that Sharma sold the same commercial floor — a unit measuring approximately 3,000 sq ft in the high-profile 32nd Avenue complex in Gurugram — to more than 25 different buyers, causing extensive financial losses to investors. Police say multiple investors were lured with promises of assured rentals and buyback options, but ownership documents were never handed over, triggering complaints and legal action. Details of the Alleged Fraud According to the first information report (FIR), a complaint was filed in January by Tram Ventures Private Limited against 32 Milestone Vistas Private Limited — previously known as Apra Motels — alleging that Sharma and his associates entered into a sale agreement for the commercial unit in 2021 for ₹2.5 crore, but failed to provide the necessary conveyance documents. As the matter unfolded, investigators discovered that between… Read MoreBusiness Archives – Trak.in – Indian Business of Tech, Mobile & Startups
