Hyderabad Police Book Real Estate Firm for Fraud
Hyderabad police have registered a case against Kirthi Infra, a prominent real estate company, for cheating hundreds of homebuyers. The case is based on multiple complaints alleging non-refund of advance payments.
Real Estate FraudLb Nagar PoliceHyderabadKirthi InfraHomebuyersReal Estate NewsJan 07, 2025
The main complaint was filed by Bharatha Raveender, a resident of Chanchalguda, in December last year.
According to Bharatha, representatives from Kirthi Infra, including D.
Srikanth, D.
Gopal, Bhukya Radha, and executive director Shashi Kanth, approached him through their sales manager Supriya.
They offered to sell him an apartment in a 16-floor gated community and asked for an advance payment of ₹42 lakh.
Bharatha paid ₹32 lakh through cheques but later became suspicious and requested a refund.
Despite multiple reminders, the developers failed to return the money, and their cheques bounced due to insufficient funds.
The police have stated that there are around 100 people who have paid the accused for houses.
Many of these victims, while not filing official complaints, are still expecting the return of their investments.
TheLB Nagar police are now investigating the grievances and are working to recover the funds for the affected homebuyers.
on Kirthi Infra
Kirthi Infra is a reputed real estate firm based in Hyderabad, known for developing residential and commercial projects in the city.
However, this recent case of alleged fraud has tarnished its reputation.
The company has come under scrutiny for failing to meet its financial obligations to homebuyers, leading to a loss of trust and legal action.
Police Action and Investigation
The LB Nagar police have initiated a thorough investigation into the matter.
They are working to gather evidence and document all the complaints against Kirthi Infra.
The police have also issued notices to the accused officials, demanding explanations for the non-refund of the advance payments and the bounced cheques.
The investigation aims to bring the perpetrators to justice and ensure that the victims receive their rightful compensation.
Impact on Homebuyers
The cheated homebuyers are in a state of distress, as the non-refund of their advance payments has left them in a financial lurch.
Many of them had invested their hard-earned money, hoping to secure a home for themselves and their families.
The police's swift action has provided some hope to the victims, who are now looking forward to a resolution.
Community Response
The community in and around Chanchalguda has expressed solidarity with the victims.
Local residents and support groups are urging the authorities to expedite the investigation and bring the guilty to justice.
The case has also sparked a debate on the need for stricter regulations and oversight in the real estate sector to prevent such fraudulent activities.
Conclusion
The registration of the case against Kirthi Infra by the LB Nagar police is a significant step towards justice for the affected homebuyers.
The ongoing investigation will play a crucial role in recovering the funds and ensuring that the company’s officials are held accountable.
It also serves as a cautionary tale for other real estate firms to maintain transparency and ethical practices in their dealings with customers.
Frequently Asked Questions
What is the main complaint against Kirthi Infra?
The main complaint against Kirthi Infra is that they failed to refund advance payments for apartments to homebuyers, and their cheques bounced due to insufficient funds.
Who filed the initial complaint against Kirthi Infra?
Bharatha Raveender, a resident of Chanchalguda, filed the initial complaint against Kirthi Infra in December.
How many people are estimated to have been affected by Kirthi Infra's fraudulent activities?
According to the police, approximately 100 people have paid the accused for houses and are expecting the return of their investments.
What actions have the LB Nagar police taken in response to the complaints?
The LB Nagar police have registered a case against Kirthi Infra and initiated a thorough investigation, including gathering evidence and issuing notices to the accused officials.
What is the community's response to the case against Kirthi Infra?
The community in and around Chanchalguda has expressed solidarity with the victims and is urging the authorities to expedite the investigation and bring the guilty to justice.
Related News Articles
Current Gold Prices in Major Indian Cities: Latest Rates and Updates
Stay updated with the latest gold prices for 10 grams of 22-carat gold in major Indian cities across India.
Equinox India Developments Limited: The New Face of Indiabulls Real Estate
Listed real estate developer Indiabulls Real Estate Limited has undergone a transformation, changing its name to Equinox India Developments Limited with effect from June 20, 2024.
Real Estate Entrepreneur Kamlesh Kumar Jailed in Ranchi Amid Money Laundering Probe
The Enforcement Directorate (ED) has arrested Real Estate businessman Kamlesh Kumar in Ranchi under the Prevention of Money Laundering Act (PMLA).
Navneet Rana to Skip Maharashtra Assembly Polls, Eyes Rajya Sabha Seat
Navneet Rana, a prominent political figure in Maharashtra, has announced that he will not contest in the upcoming Maharashtra Assembly elections. Instead, he is setting his sights on a membership in the Rajya Sabha. This decision comes after a series of s
Micromitti to Launch SM-REITs: A New Era for Real Estate Investment in Central India
Micromitti, a leading PropTech firm in Central India, is set to introduce Real Estate Investment Trusts (REITs), AIF Category 2 Real Estate Funds, and Private Equity (PE) investments, providing high-return opportunities for individual investors.
Bhopal Sees Property Rates Soar by Up to 200% in 243 Locations
Property rates in Bhopal have increased by up to 200% in 243 locations, including prime areas like Arera Colony, 10 Number Market, and MP Nagar, sparking opposition from builders and developers.