IPS Officer’s Husband Accused in ₹25 Crore Real Estate Fraud Case

Mumbai police have filed an FIR against businessman Purshottam Chavan, the husband of an IPS officer, for allegedly cheating multiple people by promising them government quota flats at discounted rates. Chavan was already arrested by the Enforcement Directorate (ED) in a ₹263 crore tax scam earlier, and now, more victims are coming forward claiming they were defrauded by him.

How the Scam Worked

Chavan would lure buyers by offering luxury flats in prime locations like Prabhadevi, Parel, Thane, and Dadar at prices much lower than the market rate, claiming they were part of a government scheme. Victims trusted him because he claimed to have insider connections due to his wife’s position as an IPS officer.

One of the victims, Kedar Degvekar, a businessman from Sion, was promised a 3 BHK flat in the luxury “25 South” project in Prabhadevi for ₹3.5 crore, while the actual market value was ₹7-7.5 crore. Believing it was a great deal, Degvekar started making payments between January 2020 and March 2024 and ended up transferring ₹3.37 crore to Chavan.

Fake Registrations and Government Links

To make his scam seem real, Chavan went to great lengths:

• In July 2020, he invited Degvekar to his wife’s flat, located above the Colaba police station, where he made him sign an "agreement for sale" in front of fake government officials.
• In September 2020, he took Degvekar to the Thane sub-registrar’s office, where he underwent biometric registration, making it look like an official government process.
• In March 2021, Chavan handed over photocopies of registration documents that had fake government housing department stamps.

With these tactics, Chavan and his associates scammed at least 19 victims, collectively cheating them out of ₹25 crore.

Possible Government Official Involvement

Investigators are now looking into whether government officials were involved. Authorities have placed several staff members from the Thane sub-registrar’s office and the Parei-Shivdi stamp registration office under investigation for their suspected roles in the scam.

ED’s Earlier Investigation and Fake Documents

Earlier, the Enforcement Directorate (ED) arrested Chavan for his role in a ₹263 crore tax fraud linked to a TDS scam. During searches, the ED found fake property sale documents and handed them over to the Economic Offences Wing (EOW) for further investigation. The EOW has now confirmed that Chavan and his team used forged government documents to carry out multiple frauds.

Chavan’s wife, the IPS officer, has now spoken out, saying she was unaware of his fraudulent activities and has filed for divorce. Authorities are continuing their investigation and may arrest more people connected to the scam. Meanwhile, victims like Degvekar are seeking legal action to recover their money.

Lesson for Buyers: Always verify property deals through official government channels, cross-check documents with the sub-registrar’s office, and never trust "insider deals" promising government quota flats at unrealistically low prices.