Hyderabad Real Estate Agent arrested for Selling Same Flats and Plots to Multiple Buyers
A real estate agent in Hyderabad has been arrested for fraudulently selling the same plots and flats to multiple buyers, cheating numerous vulnerable individuals.
Real EstateFraudHyderabadPropertyBuyersReal EstateNov 26, 2024
Santhosh Kumar managed to dupe several individuals by selling the same property to multiple buyers, taking advantage of their vulnerability and lack of information. According to Nagole Inspector A Surya Nayak, Kumar had absconded after the fraudulent sales were discovered.
Kumar has a history of such crimes, having been previously arrested in different areas of Hyderabad, including SR Nagar, Neredmet, and LB Nagar. His modus operandi typically involved targeting unsuspecting buyers, often first-time property purchasers or those looking for affordable housing options.
The Rachakonda Special Operations Team, known for its efforts in combating financial and property fraud, conducts regular operations to identify and apprehend such culprits. The team's intervention in this case has brought a measure of relief to the numerous victims who lost significant sums of money due to Kumar's fraudulent activities.
Buyers in the property market are advised to conduct thorough background checks and verify the authenticity of all property documents before making any financial commitments. Real estate agents and developers are also being urged to adhere to ethical practices and maintain transparency in their dealings.
The arrest of Mannem Santhosh Kumar is a reminder of the ongoing challenges in the real estate sector and the need for stricter regulations and enforcement to protect buyers from such fraudulent schemes. The Rachakonda Special Operations Team is continuing its efforts to identify and bring to justice other individuals involved in similar fraudulent activities in the region.
Frequently Asked Questions
Who was arrested in Hyderabad for selling the same plots and flats to multiple buyers?
Mannem Santhosh Kumar, a 45-year-old real estate agent from Dr A S Rao Nagar, was arrested for selling the same plots and flats to multiple buyers.
Which team arrested the real estate agent in Hyderabad?
The Rachakonda Special Operations Team arrested the real estate agent.
What areas in Hyderabad has Mannem Santhosh Kumar been involved in similar fraudulent activities?
Mannem Santhosh Kumar has been involved in similar fraudulent activities in areas such as SR Nagar, Neredmet, and LB Nagar.
What advice is given to property buyers to avoid falling victim to such frauds?
Buyers are advised to conduct thorough background checks and verify the authenticity of all property documents before making any financial commitments.
What is the role of the Rachakonda Special Operations Team in combating property fraud?
The Rachakonda Special Operations Team conducts regular operations to identify and apprehend individuals involved in financial and property fraud, ensuring the protection of buyers and maintaining transparency in the real estate market.
Related News Articles
Piramal Realty Appoints Abhijeet Maheshwari as CEO to Spearhead Real Estate Growth
Abhijeet Maheshwari joins Piramal Realty as CEO, bringing 18 years of experience in real estate development and leadership from Tata Realty Infrastructure Ltd.
HDFC Capital's $2 Billion Bet on Affordable Housing in India
HDFC Capital Advisors is set to invest over $2 billion in affordable and mid-income housing in India by 2025, aiming to ease supply-side limitations and fund one million homes.
New Chairman for Maharashtra Real Estate Regulatory Authority: Manoj Saunik Takes the Helm
Maharashtra government appoints Manoj Saunik, former chief secretary of Maharashtra, as the new chairman of MahaRERA, replacing Ajoy Mehta.
Budget 2025: Real Estate Sector Awaits Tax Incentives for Affordable Housing
The real estate industry is eager for the upcoming Budget 2025, with a focus on tax incentives and reforms to boost affordable housing. Key demands include reducing GST rates, increasing tax deductions, and simplifying land acquisition processes.
Upgrade to Corporation Status Fuels Real Estate Boom in Mancherial, Telangana
The recent upgradation of Mancherial to a corporation has ignited a surge in real estate activities, with both legal and illegal layouts witnessing a spike in land prices.
Calcutta High Court Bolsters RERA’s Authority, Enhancing Home Buyer Protection
A landmark Calcutta High Court judgment has significantly bolstered the powers of the Real Estate Regulatory Authority (RERA), reinforcing its role in protecting home buyers and ensuring better regulatory oversight in the real estate sector.