Hyderabad Real Estate Scam: Investors Lose Rs 300 Crore to Jayatri Group
In a major real estate scam, hundreds of middle-class investors in Hyderabad have reportedly been cheated out of over Rs 300 crore by Jayatri Real Estate Pvt. Ltd., which promised low-cost residential plots in Gopanpally.
Real Estate ScamHyderabadJayatri GroupMiddleclass InvestorsFraudReal EstateJun 02, 2025
Victims allege that the company lured them with glitzy brochures, pre-launch offers, and high-pressure marketing calls, promising prime plots at discounted prices. Investors were shown a luxurious corporate office in HB Colony 6th Phase, staffed with over 100 employees, to reinforce the illusion of legitimacy.
The land didn’t even belong to the company. According to complaints, the company claimed plots would be handed over within two years. Individual investments ranged from Rs 20 lakh to Rs 1.8 crore. However, after the promised period lapsed, investors say they were met with repeated delays and excuses.
Shockingly, when some victims visited the project site, they discovered that the land belonged to an entirely different company, confirming their worst fears of being defrauded.
The main accused, Kakarla Srinivas, reportedly founded Jayatri Group in February 2021 along with 19 other directors. Their first venture, Hilton Jaya Diamond, was launched with significant fanfare. Srinivas and a few others were arrested but are currently out on bail. Sources also allege that the same group had previously pulled off a similar scam in Rajahmundry.
Victims demand government action. Speaking to media persons, the victims, including Varma Kumar, Murthy, Prasad, Ganesh, and others, expressed their anguish. They revealed that despite lodging complaints with the police, the Enforcement Directorate (ED), and the Human Rights Commission, no concrete action has been taken.
They urged the governments of both Telangana and Andhra Pradesh to intervene, arrest the accused, seize their assets, and ensure that justice is delivered. “We come from middle-class families. Every rupee we invested was hard-earned. We demand swift action before more families fall prey to such scams,” said one of the affected buyers.
With victims now uniting and raising their voices publicly, pressure is mounting on authorities to act decisively. Legal experts suggest that affected parties pursue both civil and criminal remedies while coordinating through a registered victims’ association.
Frequently Asked Questions
What is the total amount of money reportedly lost in this scam?
The total amount of money reportedly lost in this scam is over Rs 300 crore.
Who is the main accused in the Jayatri Real Estate scam?
The main accused in the Jayatri Real Estate scam is Kakarla Srinivas.
What promises did Jayatri Real Estate make to the investors?
Jayatri Real Estate promised low-cost residential plots at discounted prices, with the plots to be handed over within two years.
What did the victims discover when they visited the project site?
When the victims visited the project site, they discovered that the land belonged to an entirely different company, confirming their fears of being defrauded.
What actions are the victims demanding from the government?
The victims are demanding that the governments of Telangana and Andhra Pradesh intervene, arrest the accused, seize their assets, and ensure justice is delivered.
Related News Articles
Star Housing Finance Sees Remarkable 70% Revenue Growth in Q1 2024-25
Housing Finance, Home Loans, Real Estate, Semi-urban Housing, Rural Housing
Supreme Court Orders Audit of Maharashtra Slum Areas Act, 1971 Amidst Implementation Issues
The Supreme Court has directed the Bombay High Court to initiate suo motu proceedings and audit the Maharashtra Slum Areas Act, 1971 to identify implementation problems.
NCR Real Estate Surges by 56% in Average Home Prices During H1 FY2025
The shift towards luxury real estate is evident as NCR witnesses a 56% surge in the average ticket size of homes in the first half of FY2025. This trend highlights the growing preference for premium properties among buyers. Explore the growth in Pune, Hyd
Mumbai's Asset-Light Model Attracts Real Estate Giants
Mumbai's asset-light model is drawing significant attention from major real estate players, making it a focal point in the global real estate market. As one of the most expensive cities in the world, Mumbai's real estate sector is poised for significant g
Aadhar Housing Finance Shares Jump 6% Following Citi's Positive Rating
Aadhar Housing Finance shares climbed 5.8% intraday to ₹418.70 on January 17, 2025, after Citi Research initiated coverage with a 'Buy' rating and forecast a 42% upside for the stock.
Pre-Budget Expectations for the Real Estate Sector in Maharashtra
MahaRERA appoints NAREDCO Maharashtra as the first self-regulatory organization. The Maharashtra Real Estate Regulatory Authority makes a significant step towards ensuring transparency and accountability in the real estate sector.