Who Is Dhruv Sharma? 32nd Avenue CEO Arrested By Gurugram Police for Selling ‘1 Floor To 25 Buyers’
Dhruv Sharma, the CEO of Gurugram’s popular lifestyle destination 32nd Avenue (formerly 32nd Milestone), has been arrested by Gurugram Police in connection with an alleged large-scale real estate fraud valued at nearly INR 500 crore.
Gurugram, February 8: Dhruv Sharma, the CEO of Gurugram’s popular lifestyle destination 32nd Avenue (formerly 32nd Milestone), has been arrested by Gurugram Police in connection with an alleged large-scale real estate fraud valued at nearly INR 500 crore.
Police allege that Sharma fraudulently sold the same commercial floor at 32nd Avenue to multiple buyers using forged documents, collecting payments from more than two dozen investors. The alleged double-selling scam, which surfaced after investors approached the Economic Offences Wing, is estimated to involve transactions worth around INR 500 crore.
What Is the Case Against Dhruv Sharma?
According to investigators, Sharma allegedly orchestrated a complex scam in which a single floor of a commercial building was sold to 25 different buyers using forged and duplicate documents. Multiple investors later discovered that the same property had been promised or transferred to others, triggering complaints to the Economic Offences Wing (EOW). Cyber Fraud in Delhi: Man Defrauded of INR 4 Lakh After Clicking Fake ‘mParivahan’ Traffic Fine Link on WhatsApp; Here’s How the Scam Works.
Police officials say Sharma and his company collected booking amounts and full payments from several parties for the same physical space, significantly inflating the total value of the alleged fraud.
FIR, Arrest and Investigation
After a preliminary inquiry, an FIR was registered under multiple sections of the Bharatiya Nyaya Sanhita (BNS), including cheating, forgery, and criminal conspiracy. Gurugram Police conducted a raid on Sunday and took Sharma into custody. Digital Arrest Scam in Mumbai: 75-Year-Old Retired BMC Official Duped of INR 16.5 Lakh by Fake ATS, NIA Officers Over ‘Delhi Bomb Blast Probe’.
Authorities are now scrutinising company bank accounts, transaction trails, and property records to trace the movement of funds. Officials believe more victims may emerge as awareness of the case grows.
Who Is Dhruv Sharma?
Dhruv Sharma is a US-educated entrepreneur who rebranded the iconic 32nd Milestone into 32nd Avenue, positioning it as a premium dining and retail destination. Under his leadership, the property gained attention for its “campus-style” layout and upscale brand mix, earning frequent mentions in business and lifestyle media.
However, in recent years, the project has reportedly faced legal disputes and allegations of financial mismanagement, culminating in the current investigation.
Impact on Investors
The arrest has sent shockwaves through the Gurugram real estate sector, especially among high-net-worth individuals who invested in the project. Legal experts warn that recovery of funds could take time, as the disputed property is now subject to multiple ownership claims.
Police have urged anyone who invested in 32nd Avenue-related projects to come forward with documents to assist the probe. Sharma is expected to be produced before a court shortly, where investigators will seek further custody for interrogation.
(The above story first appeared on LatestLY on Feb 08, 2026 08:44 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).