absconding builder

I entered into an agreement with a builder for joint property development in 2013. He sold houses he has completed with one house still pending for completion. He owes me money to the tune of 30 lakhs. He is absconding from may 2016. To safeguard our interest and recover our money we cancelled POA. We filed a complaint about this builder in local.police station in May 2017. I have not got any response from police. My intention is to complete the remaining work in one unsold house and sell it recover my money and minimise the loss. I heard that police would issue Non Traceable Certificate (NTC) if they can't trace the builder. With that certificate can i proceed and put my money to complete the house and later sell it . Your guidance will be highly appreciated.