Cyberabad police book cheating case over Rs 9.66 crore land fraud
Cyberabad Economic Offences Wing officials booked a cheating case against four persons and a real estate firm for allegedly duping buyers of Rs 9.66 crore by selling prohibited land in Khanamet. Police are investigating the money trail and the scale of the fraud.
Hyderabad: The Cyberabad Economic Offences Wing (EOW) officials have booked a cheating case against four persons and a real estate firm for allegedly duping buyers to the tune of Rs 9.66 crore by selling land that falls under the prohibited category.
The suspects, identified as K Shashidhar Reddy, Soumya, Subram Reddy and Vishnu Vaibhav, along with Sri Venn Infra Projects, allegedly convinced a group of buyers to purchase 1,070 square yards of land located at Khanamet in Serilingampally mandal.
According to the complainant, Jainy Mahesh, a businessman from Allapur, Shashidhar Reddy approached him in June 2025 claiming ownership of the land along with the other accused. Mahesh and nine others agreed to buy the property for Rs 9.66 crore.
Police said Rs 3.5 crore was transferred to the bank accounts of the firm, while the remaining amount was allegedly paid in cash to Shashidhar Reddy. However, the suspects repeatedly postponed the registration process citing various reasons.
Later, when the buyers attempted to complete the registration, the Rangareddy Joint Sub-Registrar reportedly refused, stating that the land was listed under the prohibited category. The complainant also found that the property had been leased out for operating a pub.
Realising that they had been cheated, the victims approached the Cyberabad Police and lodged a complaint recently, following which a case was booked and is being investigated.
Officials said efforts are on to trace the money trail and determine the full scale of the alleged fraud.
