Hyderabad Real Estate Scandal: Rs 15.26 Crore Fraud Through Double Registration

Amid rapidly rising land prices in Hyderabad, cases of real estate fraud are surfacing, with unsuspecting investors falling prey to large-scale scams. A shocking incident has recently come to light within the jurisdiction of the Quthbullapur Sub-Registrar’s office, where multiple buyers were allegedly cheated through ‘double registration’ of plots.

According to the Cyberabad Economic Offences Wing (EOW), fraudsters sold the same plots to different buyers, duping three victims of approximately Rs 15.26 crore.

As per police reports, Nidamarthi Shivaprasad, Naveen Kumar Goel, Narendra Kumar Modi, and Shashikant Modi developed plots across nearly three acres of land near Nizampet. These plots had already been sold and registered to several buyers. However, as land values increased, the accused allegedly concealed previous registrations and devised a plan to resell the same plots to new buyers for higher profits.

The accused reportedly convinced Momari Srinivas Prasad, Surya Kamal Prasad, and representatives of Sholain IT Park Pvt Ltd that the land had a clear title and was free from disputes. Trusting these assurances, the victims paid a total of Rs 15.26 crore and completed the registration process. It was only later that they discovered the plots had already been registered in the names of other buyers, leaving them shocked and financially devastated.

The victims have raised serious allegations against the Quthbullapur Sub-Registrar, suspecting official involvement in the fraud. Under normal circumstances, land that has already been registered cannot be registered again. However, the complainants allege that records were manipulated with the cooperation of officials, enabling the fraudulent transactions to take place. Following these allegations, senior authorities have registered a case against the Sub-Registrar and ordered a detailed inquiry.

Acting on the complaint, Cyberabad EOW police have registered an FIR against the accused under charges including cheating (Section 420), forgery, criminal conspiracy, and other relevant provisions. Police sources stated that the main accused are currently absconding, and special teams have been formed to trace and apprehend them.

In light of the incident, experts have urged investors to exercise caution while purchasing property. Key precautions include:

- Encumbrance Certificate (EC): Verify property history for at least the past 30 years - Legal Verification: Seek an independent legal opinion instead of relying solely on brokers - Official Portals: Check land records through government platforms such as Dharani or registration websites

Such incidents are increasingly undermining public trust in the real estate sector. Victims have demanded strict action against those involved, while authorities continue their investigation into the case.