Hyderabad: A World Cup winning captain, artistes from a popular Telugu comedy show and a Tollywood music director have promoted R Homes Infra Developers, which allegedly duped 200 customers after collecting 48 crore under the pretext of a pre-launch offer.
The management of the company claimed that it would construct apartments in Ghatkesar and Sangareddy.In the Ghatkesar project, customers were lured by being informed that the project would be taken up on seven acres of land. In 2020, the developers started collecting money. But till date, the management did not develop an inch of the land. Except for digging pits for one long year, there was no progress.
“After the developer failed to deliver his promise, when we started to enquire, we came to know that out of the seven acres of land, only 1,600 square yards is owned by the developer. The remaining land till today is owned by a few landlords, with whom the developer entered an agreement. But due to the lapse of time and the project not being developed, the deal is expected to expire,” an investor, Venkatesh, told TOI.
Celebrities roped in
To lure buyers in the last four years, celebrities were called, and this made customers trust the firm and invest their money. The customers invested amounts ranging from 20 lakh to 90 lakh.
“We were assured that three months from the completion of the pre-launch offer, municipal permission would be obtained and the project would be completed in two years with a buffer period of six months,” Venkatesh said.
At least on six occasions, a groundbreaking ceremony was performed by calling celebrities as special guests. “A year ago, a World Cup winning captain was also called. Some customers booked multiple flats too, hoping that it would be a good investment since it was located behind the Infosys campus in Ghatkesar. Each flat was offered to be sold for a price ranging from 1,500 per sqft to 3,000 per sqft…,” investors said.
For two years, the management dragged its feet when customers were asking for replies about the status of RERA permission and others.
