FIRs Registered Against Gurgaon's 32nd Avenue Amid Investor Protests Over Unpaid Rentals
Gurgaon Police have taken legal action by filing multiple First Information Reports (FIRs) against the owner and officials of 32nd Avenue, a prominent retail and lifestyle hub in Sector 15. This development follows escalating protests by investors who claim they have not received promised rental payments since September last year, leading to allegations of forgery and cheating.
Protests Intensify at the Commercial Complex
For several months, groups of aggrieved investors have been gathering at the complex to voice their grievances regarding delayed payments. The protests have gained momentum over the past week, prompting Gurgaon Police to increase personnel deployment around the area, particularly during evenings to maintain order.
An investor, speaking anonymously due to fears of further defaults, revealed: "I have four units from which I was supposed to receive an average of Rs 60,000 each month. However, I haven't received any payment since October last year." Another protester expressed frustration, stating that management promises to clear dues within weeks but fails to follow through, leaving investors "in the lurch".
Legal Proceedings and Police Investigation
Inspector Virender Kumar, Station House Officer of Civil Lines, confirmed that an FIR has been registered against Dhruv Sharma, the owner and CEO of 32nd Avenue, along with other officials. The charges include alleged forgery and cheating to dishonestly induce property delivery. The case is now under the purview of the Economic Offences Wing (EOW) of Gurgaon Police.
ACP (EOW) Vishal Kumar disclosed that four FIRs have been filed based on complaints of forgery, with a preliminary investigation currently underway. Police officials noted that the FIRs were registered earlier this month, though further details remain undisclosed at this stage.
Background of 32nd Avenue and Investor Allegations
Originally established as 32nd Milestone in 1990, the project underwent a significant revamp and was rebranded as 32nd Avenue in 2019-20. It has since evolved into a 250,000-sq-ft high-end lifestyle and commercial destination located on the Delhi-Gurgaon Expressway, housing popular outlets such as The Piano Man, Greenr Cafe, and offices of major companies like Google and MG.
Investors were reportedly offered pre-leased commercial spaces starting from Rs 50 lakh, with a mandatory five-year lock-in period. They were allegedly promised assured monthly rentals from day one, with rates ranging from Rs 400 to Rs 600 per square foot, translating to returns of 7-8% or higher, backed by a 30-year lease guarantee.
In addition to investor complaints, an employee at 32nd Avenue alleged that workers have also not been paid "for months," highlighting broader financial issues within the complex. Attempts to contact Dhruv Sharma for comments have been unsuccessful, as calls and messages from media outlets went unanswered.
The situation underscores growing concerns over financial mismanagement in commercial real estate projects, with authorities now actively investigating the matter to address the grievances of affected investors and employees.
