Gurugram 32nd Avenue CEO Dhruv Sharma arrested for 'selling same property to 25 buyers' in Rs 500 crore fraud

Gurugram police have taken a significant step in a property fraud case involving Dhruv Dutt Sharma, the CEO of 32nd Milestone, also known as 32nd Avenue. He was arrested on February 6, 2026, for allegedly being involved in a complex property scam that affected many investors. The main allegation against Sharma is that he sold the same commercial space to over 25 buyers. The property in question is a 3,000 square foot commercial unit, known as Unit No. 24, located on the first floor of the 32nd Milestone complex. This ongoing fraud is believed to have caused a loss of around 500 crore rupees to investors. The case started to unfold after a complaint was filed by Tram Ventures Private Limited in January 2026. The company reported that in September 2021, they paid Sharma's company 2.5 crore rupees to buy the same unit. Despite completing the payment, the conveyance deed—legal proof of ownership—was not executed. Instead, the unit was later sold multiple times to different buyers. Investigators from Gurugram’s Economic Offences Wing looked into the case and found that Sharma and his associates had engaged in a sophisticated scheme. They had conducted multiple sales and leases of the same property, making it difficult to determine who actually owned the unit. Following the investigation, Sharma was produced before a city court, where he was remanded to six days of police custody. The authorities are continuing their inquiry to gather more evidence and understand the full extent of the fraud. Despite the arrest, the company behind the complex, 32nd Milestone, has issued a statement saying that the issue with the complainant has been settled. However, multiple police reports indicate that the case remains active, with additional complaints from other investors. As of February 2026, at least five FIRs—First Information Reports—have been filed against Sharma and his companies at the Civil Lines police station. These reports involve at least 55 investors who have come forward claiming to have been defrauded. Legal authorities have taken further action. A court in Delhi has issued a notice asking police to take stricter measures against the promoters of 32nd Milestone. These steps include freezing bank accounts associated with the company and conducting forensic audits of their financial activities. The court has scheduled additional hearings for March 13, 2026. The case has raised concerns about real estate transactions and investor safety. Authorities advise all buyers to verify documents, such as conveyance deeds and sale agreements, before making any property investments. This precaution can help prevent falling victim to similar scams. The investigation into the case continues, with authorities committed to uncovering the truth and protecting investors. The legal process and police inquiries are ongoing, and further updates are expected as the case develops. In conclusion, the arrest of Dhruv Dutt Sharma marks a significant step in addressing large-scale property fraud in Gurugram. The case highlights the importance of legal due diligence in property transactions and underscores the need for stricter oversight in real estate dealings to prevent such fraudulent activities in the future.