Pre-launch offer scam: R Homes Infra Developers in Kukatpally dupes 200 customers of Rs 48 crores; couple arrested

Hyderabad: A couple managing a real estate firm called R Homes Infra Developers were arrested for allegedly cheating 200 customers of Rs 48 crores in the name of pre-launch offers for flats.

The accused have been identified as Chakka Bhaskar, chairman of R Homes Infra Developers, whose office was at AS Raju Nagar, Kukatpally. His wife Sudharani is the second accused. They are residents of Kukatpally.

Case details

The alleged fraud came to light when Vadlamudi Manoj Kumar – a businessman who invested Rs 65.50 lakhs in various projects promoted by the accused between 2020 and 2021 – filed a complaint with the police. Kumar stated that the couple promised lucrative returns and rapid development of multiple real estate projects.

The projects were:

Bliss Heights project in Yamnampet, Ghatkesar mandal in Medchal-Malkajgiri District.

ORR Heights project in Kardanur, Patancheruvu mandal in Sangareddy District.

Farmland projects in Sangareddy district at Karamungi in Nagilgidda; Murigi in Nagilgidda mandal; and Cheemalpahad in Sirgapur mandal.

Modus operandi

The accused hatched a plan to collect money from customers in the guise of pre-launch offers.

As per their plan, they did not obtain any required permission from the competent authorities. Despite not having any permissions, they advertised widely using broadcast media, social media channels, celebrity endorsements and attractive promotional schemes.

In the advertisements, they stated that they are providing flats at a cheaper rate than others and promised to hand over the project within three years. In case they fail to deliver, they also promised to pay a rent of Rs 6,000 for 2 BHK flats and Rs 8,000 for a 3 BHK flat each.

The promotion proved to be successful as the accused managed to collect Rs 48 crores from around 200 customers.

However, even after the completion of three years the couple did not fulfil their promise and extended the project delivery date citing various reasons. After the buyers demanded a refund, the accused fled.

The EOW (Economic Offence Wing) Police of Cyberabad arrested the couple for allegedly cheating and criminal breach of trust and charged them under sections 406, 409 and 420 IPC of EOW PS, Cyberabad.

Public advisory

The Cyberabad EOW Police advised the public to be aware of pre-launch offers and asked them to verify the legitimacy of the real estate firm before signing any contracts or paying any money.

The case was being investigated by B Somnarayan Singh, ACP Economic Offences Wing PS, Cyberabad under the supervision of K Prasad, dy. commissioner of Police, EOW, Cyberabad.