NRI Duped of 3.6 Crores in Hyderabad Real Estate Scam
A Nigerian NRI loses 3.6 crores in a real estate scam involving a Tollywood celebrity endorsement in Hyderabad.
Real Estate ScamNriTollywood CelebrityHyderabadCyberabad PoliceReal EstateOct 02, 2024
The complainant, who was in India in 2021, was searching for a piece of land with potential for appreciation. After seeing social media advertisements featuring the Tollywood hero, he got in touch with company representatives who showed him various ventures in Ranga Reddy district and its surrounding areas.
He decided to buy 2,100 sq yards in Kokapet and paid 3.6 crores. It was agreed that the registration could be done within a year. However, the complainant later discovered that the plots sold to him were registered in some other customers' names.
When the complainant questioned the proprietor, he was assured that the two customers would be convinced to cancel their sale deeds, paving the way for registering the promised plot in his name. The proprietor also promised to clear the arrears and complete the registration at the sub-registrar's office.
The victim cleared the pending money and was shown the sale deeds to be registered in his name. He was asked to come to the sub-registrar's office to complete the remaining formalities. However, the proprietor failed to turn up, leaving the victim stranded.
Cyberabad police have registered a criminal case against the proprietor on charges of conspiracy, cheating, and breach of trust.
The incident highlights the need for caution when investing in real estate, especially when celebrity endorsements are involved.
Cyberabad Police is the law enforcement agency responsible for maintaining law and order in the Cyberabad region of Hyderabad.
Frequently Asked Questions
How much money did the NRI lose in the real estate scam?
The NRI lost 3.6 crores in the real estate scam.
What was the promise made by the real estate firm to the NRI?
The real estate firm promised to provide the NRI with land in Kondapur.
Who was the brand ambassador of the real estate firm?
A popular Tollywood hero was the brand ambassador of the real estate firm.
What was the agreement between the NRI and the real estate firm regarding registration?
The agreement was that the registration could be done within a year.
What action has been taken by the Cyberabad police in this case?
The Cyberabad police have registered a criminal case against the proprietor on charges of conspiracy, cheating, and breach of trust.
Related News Articles
Delhi-NCR's Luxury Real Estate Market Soars with 72% Sales Surge in 2024
The luxury real estate market in Delhi-NCR has experienced a significant upswing, recording a 72 percent increase in sales in 2024. This growth underscores the robust demand for high-end properties in the region.
Luxury Real Estate Boom: India's High-End Property Market Sees Unprecedented Growth
Over 8,500 luxury units sold in H1 2024, with Delhi-NCR, Mumbai, and Hyderabad leading the charge. The luxury real estate market in India is expected to continue its upward trend.
Top 4 Commercial Real Estate Companies to Watch in India
Discover the top commercial real estate companies in India that are set to benefit from the growing demand for coworking spaces and REITs.
Sunil Shetty Buys Rs 8 Crore Property in Khar West: The Celeb Real Estate Trend in Mumbai
Bollywood star Sunil Shetty and his son have made a significant investment by purchasing a property worth Rs 8.01 crore in Khar West, Mumbai. This acquisition adds to the growing trend of celebrities investing in prime real estate in the city. Discover wh
Supply of Affordable Homes Drops by 30% in 2024: PropEquity Report
In a significant shift in the real estate market, the supply of homes priced up to Rs 1 crore has seen a substantial decline of 30% in 2024, according to a recent report by PropEquity. The report highlights the growing gap between demand and supply, raisi
Mumbai's Luxury Real Estate Market Heats Up: Urjita Master Buys Worli Apartment for ₹105 Crore
In a significant deal that highlights the robustness of Mumbai's luxury real estate market, Urjita Master has recently acquired a lavish apartment in Worli. The property, which is part of a prestigious project by real estate firm Oberoi Realty, has been s