Hyderabad Real Estate Scandal: Square and Yards Fraud Case Unveiled
A major real estate fraud case has come to light in Hyderabad, involving the company Square and Yards. The firm, led by Baira Chandrasekhar, has been charged with defrauding investors of Rs. 24 crores through false promises of high returns on farmhouse vi
Real Estate ScamHyderabadSquare And YardsBaira ChandrasekharFarmhouse Villa InvestmentsReal EstateOct 24, 2024
Chandrasekhar and his team collected a staggering Rs. 24 crores from unsuspecting investors, who were lured by the promise of double returns on their investments. The scam involved offering villas and farmhouses on the outskirts of Hyderabad, but many investors have reported receiving neither returns nor the properties they were promised.
The fraud was exposed when several victims came forward with their grievances, leading to a detailed investigation by the police. The Cyberabad police have initiated an in-depth probe to determine the full extent of the fraud and to identify any other parties involved. As the investigation progresses, further legal action is expected to be taken.
Square and Yards, previously known for its promising real estate projects, has now become a cautionary tale for investors in the region. The company's downfall serves as a stark reminder of the importance of due diligence and careful research before making any significant investments in the real estate market.
Local authorities are urging anyone who believes they may have been a victim of this fraud to come forward and report their experiences. The police are working diligently to ensure that justice is served and that those responsible are held accountable for their actions.
For investors, this incident highlights the need for transparency and accountability in the real estate sector. It is crucial to verify the credentials and track record of any company before committing to any investment, especially in high-stakes projects like farmhouse villas. The authorities are also encouraging investors to seek legal advice and to report any suspicious activities to the relevant authorities.
As the case continues to unfold, the community in Hyderabad remains vigilant, hoping for a swift resolution that will bring peace of mind to those affected by this fraudulent scheme.
Frequently Asked Questions
What is the nature of the fraud involving Square and Yards?
Square and Yards, a real estate company in Hyderabad, defrauded investors by promising high returns on investments in farmhouse villas. The company collected Rs. 24 crores from unsuspecting investors, who received neither returns nor properties.
Who is Baira Chandrasekhar, and what role did he play in the fraud?
Baira Chandrasekhar is the owner of Square and Yards. He and four others were arrested for their involvement in the fraud, which involved luring investors with false promises of double returns on investments in farmhouse villas.
How did the scam come to light?
The scam was exposed when several victims reported the fraud to the authorities after receiving no returns or properties as promised. This led to a detailed investigation by the Cyberabad police.
What action has the Cyberabad police taken so far?
The Cyberabad police have registered a case against the management of Square and Yards and have arrested Baira Chandrasekhar and four others. They are also conducting a thorough investigation to determine the full extent of the fraud and to identify any additional parties involved.
What advice is given to potential investors in the real estate market?
Investors are advised to exercise due diligence and thoroughly research any company before making significant investments. It is crucial to verify the credentials and track record of the company and to report any suspicious activities to the relevant authorities.
Related News Articles
Indian Realty Giants Unload Properties Worth Rs 1.17 Lakh Crore in FY24
Leading real estate companies in India, such as Macrotech Developers and Signature Global, have sold properties worth a staggering Rs 1.17 lakh crore in FY24.
Soaring Demand Drives Up Property Prices in Delhi-NCR and MMR
Average housing prices in Delhi-NCR and Mumbai Metropolitan Region (MMR) have risen by nearly 50% in the last five years, driven by higher demand and infrastructural developments.
Aditya Birla Real Estate: Pune Launch on the Cards, Expanding in Thane and Sarjapur
In a recent post-earnings call, the management of Aditya Birla Real Estate Ltd, formerly known as Century Textiles and Industries Ltd, announced the upcoming launch of a new project in Pune, along with plans to expand in Thane and Sarjapur.
ACRES 2025 Showcases Over 400 Property Projects in Egypt Pavilion
Organised by the Sharjah Chamber of Commerce and Industry (SCCI) in collaboration with the Sharjah Real Estate Registration Department (SRERD), the ACRES 2025 event is set to feature an extensive array of property projects from Egypt, highlighting the cou
The 23-Year Journey: How a UP Man Purchased Dawood Ibrahim’s Mumbai Shop
Hemant Jain took a significant risk in 2001 by purchasing a Mumbai shop linked to Dawood Ibrahim. Despite numerous bureaucratic obstacles, he finally managed to register the property after a grueling 23-year battle.
What Are the Top 20 Expectations for the Budget 2025-26?
As the Union Budget 2025-26 approaches, scheduled to be presented by Finance Minister Nirmala Sitharaman on February 1 (Saturday), the real estate industry and other sectors are bracing for significant changes and potential boosts. Here’s a detailed look