Eye-opening truths have been revealed in the case of the Sahiti Infra organisation, which lured many people under the pretext of pre-launches. The investigation led by CCS police has revealed that the total value of this scam was Rs. 1800 crore. It has been found that a huge amount of money has been collected from many people in the name of pre-launches for nine projects. It was found that the money collected from the buyers was used for their own needs. In 2019 itself, the seed of this scandal was planted.
They started collecting money in the name of pre-launch, saying that they would build 32 floors in 10 towers on 23 acres located in survey number 343 in Ameenpur. As much as Rs. 504 crore was collected from 1752 people. However, as days passed and the project was not started, in August 2022, several victims filed a complaint with Hyderabad CCS Police against Sahitya Infratech Ventures India Pvt. Ltd. MD Budati Lakshminarayana. After this, the police arrested him. The investigation revealed that a total of 22 people, including the directors of the company, had collected money from many people in the name of pre-launch. It was found that no necessary permissions were obtained for the actual construction of the project. Moreover, out of 23 acres, only 10 acres were purchased. Out of the remaining 13 acres, 9 acres were taken on a sales agreement, and another 4 acres were taken on an unregistered sales agreement. In the same way, nine more projects were started with the money taken from the buyers of Rs. 504 crore.
It collected Rs. 65 crores from 69 people in the name of Sahiti Swadha Commercial Project in Nanakramguda; Rs. 79 crores from 248 people in the name of Sishta Abode in Kompally; Rs. 40 crores from 153 people in the name of Sahita Green in Kompally; and Rs. 269 crores from 135 people in the name of Sahiti Sitara Commercial in Gachibowli Rolling Hills. Rs. 22 crore from 44 people in the name of Sahiti Mahita Centro in Banjara Hills, Rs. 46 crore from 120 people in the name of Anand Fortune in Nizampet, Rs. 16 crore from 25 people in the name of Sahiti Kruti Blossom in Gachibowli, Rs. 22 crore from 30 people in the name of Sahiti Sudeeksha in Mokila, and Rs. 69 crore from 43 people in the name of Ruby Constructions in Bachupally. The police said that they have collected Rs. 1164 crore so far. In this background, more than 50 cases have been registered in various police stations in Cyberabad and Hyderabad Commissionerates, as well as within Medak Districts. They were transferred to CCS in September of last year.