HYDERABAD: Two criminal cases against a city-based real estate firm developers, initially registered with Madhura Nagar police, were transferred to the central crime station for a detailed investigation into allegations of duping plot buyers.
Company’s managing director Kancherla Satish Chandra Gupta, who was arrested in Nov for alleged pre-launch fraud schemes, is named in the cases along with other associates. Gupta along with others allegedly collected 5 crore for a fictitious project in Vattinagulapalli. Authorities said Gupta has a history, with 11 cases already registered against him for similar offences.
On April 21, a complaint was lodged by Mutyam Priyanka, a resident of KPHB Colony. Priyanka alleged that she paid 29.9 lakh in instalments to purchase a plot at Nandigama in Sangareddy district.
Despite receiving the full payment, the developers failed to register the plot and later claimed it was already sold to another party. Priyanka also reported facing threats and abuse when she demanded the plot registration or a refund.
Posiratnam Rachuri filed a complaint on Nov 25. He paid 26.5 lakh for a plot in a project at Manaspally village in Kondapur mandal. Despite repeated visits and calls, she failed to get the plot registered. Further investigation revealed thatthe developers did not even own the land, making it impossible to fulfil the agreement.
Rachuri expressed frustration over the ordeal, citing emotional distress and financial loss. She also confirmed filing a case with TG RERA.
