Bought flats in pre-launch sales, only to got trapped
Around 200 to 300 buyers who bought flats in six projects, are coming in groups to the Bhuvanateja Infra office at Panjagutta and clamouring for return of their money. This situation has become a routine affair now. Some of them have been running around the company MD Chakka Venkata Subramaniam for about a year, but has become an expert in sending away those who came for money by either giving some excuse or making them sit for hours together. However, some buyers who got tired of his excuses, have decided to settle the matter and are creating a ruckus at the company office on a regular basis.
While working at Parijata Developers some years ago, Chakka Venkata Subramaniam used to travel by an Activa scooter. But ever since he became an expert in duping people in the name of pre-launch sales and collecting money from them, he got into the habit of buying luxury cars and staying in luxury star hotels. The victims are alleging that the money belongs to innocent people, using which he has been leading a luxurious life. Ironically, the agents who sold plots and flats in Bhuvanateja Infra’s projects, also got themselves in troubled waters. According to information received by Real Estate Guru, this Bhuvanteja Infra company has sold properties in around 10 projects in pre-launch sales in Hyderabad alone.
Happy Homes Apartments, Shamirpet
Happy Homes 2 Villas, Shamirpet
Bhuwanateja Aura-1, Velimala
Bhuwanateja Aura-2, Velimala
Bhuwanateja Bloomdale, Medchal
Green Valley, Capra
Golden Nest, Isnapur
Happy Homes, Kadtal
EVK’s residence, Kollur
In addition to this, Chakka Venkata Subramaniam has stationed himself at the projects belonging to Tulsi Bhagyanagar and other companies, claiming them to be his own projects and selling those flats in pre-launch sales. It is astonishing to see how Tulsi Bhagyanagar MD Boddu Ashok ignored Chakka Venkata Subramaniam who has been openly claiming that the project belongs to him. The victims complain that crores of rupees collected from them in pre-launches were diverted for other purposes.
The buyers are alleging that though they bought flats in 2020, they have not been completed so far and hence, were forced to demand for return of their money. Although the money was collected three years ago in the pre-launch sales, Tulsi Bhagyanagar has neither started the project nor returned the amount. Buyers are now tormented as to whether Chakka Venkata Subramaniam diverted funds collected by Tulasi Bhagyanagar to buy lands elsewhere, other other businesses or used it to invest in a city like Dubai. Notwithstanding what he did with the money collected from them, they want him to return it immediately.