₹9.66 crore land scam: Cyberabad Police book Sri Venn Infra, 3 others for cheating
According to the police, the accused sold land that was listed under the prohibited category.
By Newsmeter Network
Hyderabad: Economic Offences Wing (EOW) of the Cyberabad Police has registered a case against four persons and a real estate firm for allegedly cheating buyers of ₹9.66 crore by selling a prohibited property.
According to the police, the accused sold land that was listed under the prohibited category and later failed to execute its registration, prompting the victims to approach authorities.
Deal finalised for ₹9.66 crore
The accused have been identified as Katamreddy Shashidhar Reddy, Soumya, Subram Reddy, and Vishnu Vaibhav, along with Sri Venn Infra Projects. Their names have been included in the FIR registered at the Cyberabad EOW Police Station.
Police said the complainant, Jainy Mahesh (37), a businessman from Allapur in Hyderabad, was approached by Shashidhar Reddy in June last year. He was told that he, along with Soumya, Subram Reddy, and Vishnu Vaibhav, owned 1,070 square yards of land in Survey No. 11/33 at Khanamet in Serilingampally mandal.
Mahesh and nine others agreed to purchase the land for ₹9.66 crore.
Payments made in Cash and Bank Transfers
Out of the total amount, ₹3.5 crore was transferred to the bank accounts of Sri Venn Infra Projects. The remaining amount was allegedly paid in cash to Shashidhar Reddy.
However, the registration process was repeatedly postponed on various grounds, raising suspicion among the buyers.
Registration refused over prohibited status
When Mahesh later visited the site, he found a shed erected on the land. Upon questioning, the accused reportedly assured him that the structure would be cleared and possession would be handed over by October 2025.
Subsequently, the Rangareddy Joint Sub-Registrar-2 refused to register the property, stating that it was listed under the prohibited category. The complainant also discovered that the land had allegedly been leased out for running a pub.
Realising they had been cheated, the victims lodged a complaint with the Cyberabad Police, who have initiated an investigation into the alleged fraud.
Police said further investigation is underway to ascertain the full extent of the scam and trace the money trail.
