Hyderabad Real Estate Scam: Jayatri Group Defrauds Investors of Rs 300 Crore
Hundreds of middle-class investors have lost over Rs 300 crore to Jayatri Real Estate Pvt. Ltd., which promised low-cost residential plots in Gopanpally, Hyderabad. The company's main accused, Kakarla Srinivas, and 19 other directors are now under scrutiny.
Real Estate ScamHyderabadJayatri GroupKakarla SrinivasVictimsReal Estate NewsJun 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.
Accused was out on bail, has a record of such scams
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 defrauded in the Jayatri Real Estate scam?
The total amount of money defrauded in the Jayatri Real Estate 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, who founded Jayatri Group in February 2021 along with 19 other directors.
Where were the residential plots promised by Jayatri Real Estate located?
The residential plots promised by Jayatri Real Estate were located in Gopanpally, Hyderabad.
What actions have the victims taken to seek justice?
Victims have lodged complaints with the police, the Enforcement Directorate (ED), and the Human Rights Commission. They have also united and raised their voices publicly to pressure authorities to act decisively.
What is the recommended course of action for affected parties?
Legal experts recommend that affected parties pursue both civil and criminal remedies while coordinating through a registered victims’ association.
Related News Articles
Luxury Housing Demand Surges in India as Buyer Preferences Evolve
A recent survey reveals that 59% of respondents prefer real estate as their top investment choice, highlighting a significant surge in luxury housing demand in India. ...
Mumbai Sees 52% Jump in Property Registration Revenue in October: Report
Mumbai witnessed a significant 52% rise in property registration revenue, reaching Rs 1081 crore in the Diwali month, according to a report by ANAROCK Research.
From Slums to Luxe: Mumbai's Real Estate Renaissance
Explore the transformation of Mumbai's real estate landscape, driven by market consolidation and the emergence of luxury projects. Leading developers such as Godrej Properties, Adani Realty, L&T Realty, and Ashar Group are at the forefront of this change.
Realty Insolvency Reforms: Streamlining Solutions for Homebuyers and Lenders
The proposed reforms in the real estate market aim to enhance transparency and security, ensuring that homebuyers and lenders have access to crucial information, such as minutes from Committee of Creditors (CoC) meetings, through secure platforms.
Two Revenue Officials and Ghost Company Implicated in Surat Property Scam
The case was registered by the state CID Crime based on the complaint of Azad Ramolia, a real estate businessman from Bharuch, who alleged that his land was illegally divided and resold.
Suryakumar Yadav and Wife Devisha Purchase Two Luxurious Apartments in Mumbai for Rs 21 Crore
Indian cricketer Suryakumar Yadav and his wife, Devisha, have splurged on two plush apartments in the bustling city of Mumbai, investing a staggering Rs 21 crore. The property acquisition highlights the couple's growing affluence and their preference for