Cases of those defrauded in the prelaunch are coming to light one by one. The Cyberabad Economic Offenses Wing has arrested Guntupalli Srinivas Rao of the GSR Group, who had collected sixty crore rupees from buyers by promising luxury villas in Kolluru for just one crore rupees. Along with him, Chadalavada Srinivas Rao and Vemavarapu Satyasilpa are also among those arrested. They had promised to complete the villa project in three years or, failing that, to pay an interest of 24 percent, but they have failed to deliver.
In regards to a fraud involving Rs 15 crore under the pretext of selling villas, the CCS police have registered a case against Bhavishya Realtors and NSA Avenue Private Limited. In January 2023, P. Baburao, J. Sekhar Rao, and G. Venkata Ramana Rao from Bhavishya Realtors, along with Koneru Venkata Vinay, a director at NSA Avenue, planned to construct duplex villas on 17 acres in Kollur, Maheshwaram, Rangareddy District. Ashok Rao and his eight friends bought villas there, each priced at Rs. 1.7 crore. Everyone paid an advance of Rs. 1 lakh each. An agreement was made to build the villas within 4,250 square feet on a 450-square-yard plot over three years.
By February of this year, everyone had paid the full amount in installments. Whenever asked to show the documents related to the site, they avoided by claiming that the Dharani website was not opening, according to the complaint. Last month, when Ashok Rao and his friends went to visit the site, it was found that the land did not belong to the builders. Upon inquiring at the MeeSeva center about the survey numbers, it was revealed that the land was on the prohibited list. Following this, victims filed complaints against Baburao and other builders, leading to their arrest by the police.
