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
Mumbai and New Delhi Shine in Global Property Price Index, Ranking 2nd and 3rd Respectively
Mumbai and New Delhi have emerged as the top performers in the global property price index, with Mumbai ranking 2nd and New Delhi ranking 3rd in terms of annual price rise in prime residential properties.
Pune, Delhi-NCR Lead with 3 Lakh Homes Worth ₹4.26 Lakh Crore Sold in Jan-Sep
In the first three quarters of the year, Pune and Delhi-NCR have emerged as the top performers in the residential real estate market, with about 3 lakh homes worth ₹4.26 lakh crore sold. These regions have seen a significant boost in property sales, accor
Indian Real Estate Developers Raise Rs 12,801 Crore via QIP in First Nine Months of 2024
Mumbai, Oct 28 2024 - Indian real estate developers raised Rs 12,801 crore through qualified institutional placements (QIPs) in the first nine months of this year, accounting for over 17% of the total QIP issuance across sectors. This surge highlights the
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
Vibha Shanghvi Acquires Two Luxury Apartments in Mumbai's Worli for ₹135 Crore
Vibha Shanghvi, wife of Sun Pharma's CMD Dilip Shanghvi, has purchased two luxury apartments in Worli, Mumbai, for a total of ₹135 crore. The apartments are part of the Naman Xana project on the Worli Sea Face.
Bigdome Infra Secures Massive Land Deal in Kalyan-Dombivli for Rs 129.86 Crore
Bigdome Infra, a newly established real estate company in Maharashtra, has made a significant move by acquiring a large parcel of land in Kalyan-Dombivli for Rs 129.86 crore. This acquisition marks a major milestone in the company's growth and expansion p