According to the complaint lodged by Atul Garg, the accused, Anand Jain, and his wife Anita told him that they owned a 1,800 sq ft flat in Delhi, which was currently on bank mortgage, police said.
Garg decided to buy the flat for Rs 1.5 crore and paid first Rs 40 lakh and then Rs 12.5 lakh as advance, they said.
However, even after paying the money, the couple did not hand over the property papers to him.
Garg claimed that when he confronted Jain, the accused refused to return the money and threatened to kill him, following which he approached police and lodged complaint.
A case has been lodged against Jain and the matter is being probed, police said.