Krithika Developers, under the pre-launch scheme, allegedly swindled crores of rupees.
Pre-launch scam centered around LB Nagar.
Sales took place in 2020, but work has yet to begin.
Customers have accused the company of diverting their money.
When customers demanded their money back, they were threatened.
Victims are seeking justice.
The chain of pre-launch scams in Hyderabad seems to be endless. It appears one scam follows another, or perhaps they are waiting for the right time to deceive people. Every week or ten days, a new company’s scam comes to light, causing concern. After the shocks of Suvarnabhoomi and RJ Group cheating cases, another company’s fraudulent activities have emerged. Krithika Infra Developers, operating from LB Nagar, has been cheating buyers under the guise of a pre-launch offer. This company collected crores of rupees from customers four years ago, but when asked about the flats, they have been dismissive. Customers are now deeply worried about the company’s actions.
In the construction industry, whether a project succeeds or fails, maintaining customer trust is critical for developers and real estate companies. However, due to the actions of a few fraudsters, this trust seems to be disappearing. With scams involving pre-launch offers and buy-back sales, all those who paid are now left stranded. If such scams happened occasionally, it might be dismissed, but when it happens every few days or weeks, it is certainly alarming. Most recently, Krithika Infra Developers has deceived customers under the pre-launch offer. Despite customers paying money years ago, they still haven’t received their flats, which has led to growing protests.
In 2020, Krithika Infra Developers collected crores of rupees from customers under the guise of pre-launch sales. The company, based in LB Nagar, is managed by Radha Bhukya as MD, Dhoomvath Gopal as Director, and Srikanth as CEO. They promised to build S+6 apartments named “Sheshadris Oak” on 2 acres of land in Tatti Annaram, on the outskirts of Hyderabad, but no construction has been started to date. Additionally, they promised to build a gated community of apartments named “Sheshadris Silver Oak” on 3 acres of land in Uppal.
The developers collected money from nearly 150 customers through pre-launch offers, but there has been no construction so far. There are accusations that the funds collected from buyers are being diverted to the company’s other businesses. Once the victims realised they had been scammed, they demanded a refund, but the management initially used sweet talk to avoid the issue. Now, the victims are alleging that they are being threatened by the management, as they continue to demand justice.
