Hyderabad couple allegedly loses Rs 1.97 crore in real estate fraud

A Hyderabad couple was allegedly cheated of Rs 1.97 crore after investing Rs 2.67 crore in real estate on the advice of a relative. They alleged that properties were not registered in their names and that the accused threatened them

Hyderabad: A couple from the city was allegedly cheated of Rs 1.97 crore after being lured with promises of high returns on a real estate investment.

According to police, the couple, who are staying at Balaji Hills in Boduppal, were approached by their relative D Sagar, who advised them to invest in real estate. Trusting him, the couple paid Rs 2.67 crore in instalments.

---

However, when the properties were not registered in their names, they confronted Sagar, who subsequently returned Rs 70 lakh but allegedly threatened them when they demanded the remaining amount. The victims also alleged the involvement of Pravalika and Balaji in the financial transactions.

Based on the complaint, the Medipally police have taken up an investigation.