Police warn Hyderabad buyers after rise in real estate frauds around Narayankhed
Kangti police have installed warning boards across the mandal to alert prospective land buyers after several real estate fraud cases surfaced in Narayankhed constituency. Buyers, particularly from Hyderabad, have been urged to verify land records before purchasing property.
Sangareddy: Summer is the time of the year when real estate activity is poised to pick up in and around Narayankhed what with there being no crops in the fields and buyers from Hyderabad finding some leisure time to scout around for properties.
However, those looking for a slice of real estate need to be aware of the real estate fraudsters on the prowl in the area. Such fraudsters usually focus on prospective buyers from Hyderabad looking for a piece of land to build their own farm house in rural parts.
Following multiple real estate frauds in Kangti, Sirgapur, Narayankhed and other mandals in the constituency, the Kangti police have decided to forewarn the prospective buyers and set up warning boards along the roads in the mandal.
These cautionary boards advise the buyers to check the credentials of the land they intend to acquire and take up due diligence with records.
There have been several real estate related frauds here in recent times. For instance, in a village in Narayankhed mandal, a man purchased 50 acres of land from a group of farmers and after first installment, delayed the remaining amount.
He then attempted to register the land in his name showing a forged court verdict document. However, the revenue officials identified these as fake documents and initiated action against him.
In the same way, some real estate fraudsters had shown lands close to the road, but the actual land registered were found located in a remote place. In some other instances, real estate fraudsters showed forged documents which resulted in complications.
Kangti Inspector Venkat Reddy advised the prospective buyers to check the genuineness of the lands multiple times with revenue officials, panchayath officials and local elected representatives before going for a deal. Reddy said the fradusters were luring the buyers by offering to sell the lands at much lesser price than the market price and advised caution.
