₹15.26 Cr fraud: Quthbullapur SRO officials booked for selling same flats to different buyers
The Cyberabad Economic Offences Wing (EOW) has registered a case against multiple individuals, including officials from the Quthbullapur Sub-Registrar’s office.
By - Newsmeter Network
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Hyderabad: A major real estate fraud involving double registration of flats has come to light in the city, with losses amounting to ₹15.26 crore.
The Cyberabad Economic Offences Wing (EOW) has registered a case against multiple individuals, including officials from the Quthbullapur Sub-Registrar’s office, following a complaint by the victims.
Multiple accused named in FIR
Based on the complaint, the police have named Nidamarthi Shivaprasad, Naveen Kumar Goyal, Narendra Kumar Modi, and Shashikant Modi among the accused. Authorities suspect a well-planned conspiracy involving developers and registration officials.
Flats sold twice to different buyers
According to the investigation, the accused had earlier sold flats developed on a three-acre land parcel in Nizampet to some buyers.
However, concealing these prior transactions, they allegedly resold the same flats to other individuals, including representatives of Showtime.com Pvt Ltd, Moturi Srinivas Prasad, and Surya Kamal Prasad.
Role of sub-registrar officials under scanner
The complaint alleges that the fraudulent registrations were carried out with the active support of officials at the Quthbullapur Sub-Registrar’s office. Their role is now under investigation as part of the case.
EOW begins probe
The Cyberabad EOW has initiated a detailed probe into the scam, focusing on financial transactions, document verification, and the involvement of officials. Further arrests and action are likely as the investigation progresses.
