The Real Estate Guru advised not to buy in the RJ Group way back in 2021..
But the buyers didn’t listen.
Now, they are protesting, saying they’ve been cheated.
When the Market Burns, the Leaves Don’t Help!
REGNews revealed in 2021 that RJ Group is a fraudulent company, which is conducting pre launches in areas like Ghatkesar without RERA approval. It warned that those who invested in the pre-launch started by this company would be scammed, and if they didn’t get the approval from HMDA (Hyderabad Metropolitan Development Authority), the buyers would end up in trouble. However, since the RERA officials at the time were not vigilant, RJ Group continued its pre launch operations. Recently, buyers who were affected have filed complaints with the Basheerbagh Police, claiming they were cheated. They lamented that if only they had listened to REGNews’ warning, they wouldn’t be in this situation today.
As REGNews predicted, the situation unfolded as expected. RJ Group deceived about 600 people, collecting nearly Rs 150 crore. The company announced ventures in areas like Narayankhed, Ghatkesar, Patancheru, and Kardanoor, under the guise of apartments and farm lands. Victims have mentioned that the company even used endorsements from several prominent figures to promote these ventures. Since 2022, individual investors have put in amounts ranging from Rs 20 to Rs 50 lakhs, but after four years, no construction has begun. Victims are now lamenting that they were deceived by the words of RJ Group’s MD Bhaskar Gupta and Director Sudharani. When they pressed for action, they were given cheques, but those too bounced. They are preparing to file complaints with the authorities in the Cyberabad area, where the company’s office is located. The victims are demanding that RJ Group sell off its assets and provide them with justice.
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