- Cheating case registered
against Sai Surya Developers
Superstar Mahesh Babu, who serves as the brand ambassador for the real estate company Sai Surya Developers, unwittingly led many individuals to invest in plots offered by the company. However, the aftermath of these investments has left investors in a state of dismay.
In 2021, Nakka Vishnuvardhan and several others collectively invested a staggering sum of Rs 3,21,34,000 in a 14-acre project known as Green Meadows developed by Sai Surya Developers, situated in Shadnagar. This substantial amount was intended for the acquisition of mortgaged plots, with the understanding that the plots would be registered once the requisite permissions from the Hyderabad Metropolitan Development Authority (HMDA) were obtained. However, suspicions began to arise when the company failed to deliver the promised plots and remained uncommunicative.
Upon further investigation, a shocking truth came to light. It was revealed that the plots, which had been purchased by Vishnuvardhan and others, had been surreptitiously sold to other individuals. As they visited the project site, the investors discovered that the actual conditions on the ground did not align with the promises made to them. Further, it was discovered that the necessary permissions also had not been acquired for the project.
Adding to the woes, it was found that the compensation owed to the farmers for the land had also not been duly paid. Realizing the magnitude of the cheating perpetrated against them, Vishnuvardhan and 30 other victims filed a complaint at the Maduranagar police station. The authorities took cognisance of the matter and initiated a case against Sai Surya Developers, along with the owner of the company, Satish Chandra Gupta.
