Hyderabad:Krithika Infra Developers, a real estate firm based in LB Nagar, has allegedly duped nearly 150 buyers in a housing scam worth over Rs 100 crore. RERA had earlier warned the public against purchasing plots from the firm.
The company lured buyers with advertisements for 2 and 3 BHK flats in gated communities at Boduppal, Saidabad and other areas in and around Hyderabad. Victims said the firm used phone calls, provided pick-and-drop services for site visits, ran TV ads including endorsements on a comedy show and promised premium properties with partial GHMC and RERA permissions. Buyers were told that additional land was being procured. However, no construction began and the land remains barren.
In a report titled ‘Don’t buy from Krithika infra’, Deccan Chronicle had on April 17 quoted from the RERA order: “RERA stated the developers had clearly misled and defrauded innocent buyers by collecting large sums without fulfilling legal obligations. The public is strictly advised against purchasing plots or entering into agreements with these companies. Those who have already paid are urged to report the matter and seek legal recourse.”
The buyers, who include private employees and elderly couples, invested anywhere between `20 lakh and `50 lakh each. They waited over a year for property handover, which never happened, and have now been waiting nearly two years for refunds. “I used all my savings, even mortgaged my wife’s gold and put in ten years of hard-earned money,” said Harish, one of the complainants. “I chose Boduppal thinking it would be ideal for my children’s schooling and my business. But we’ve been left shattered,” he lamented.
In a recent case, G. Kiran, 44, a private employee, named several members of the accused family, including Krithika Infra’s managing director Dumavath Srikanth, mother Radha (also MD), father Gopal (director), brother Sashikanth (executive director), marketing head T. Arun Kumar, and others like P. Supriya and Mahender. At least six FIRs have been registered against them at Medipally and LB Nagar police stations.
Kiran shared that the company took him for a site visit and assured full project development. “I paid the full amount in 2022. Six months later, there was no construction, just an empty plot. When I demanded a refund, they demanded cancellation charges. Later, they returned only `3 lakh. I then discovered over 100 other families had been similarly cheated. I met several of them at police stations and the company office.”
Victims said the office has been shut for over three months. “Earlier, when we approached them, they issued threats. We used to take turns visiting the office hoping for a resolution, but there has been no communication,” said another buyer.
Allegations have also surfaced that the accused are enjoying police protection. Victims said whenever a complaint was filed, the accused appeared at the police station and the case would be closed without refunds. “Even when some refunds were issued, they were far below the invested amounts,” they said.
Police confirmed six cases are registered against the accused, whose phone numbers are now unreachable. Chargesheets are being prepared in four cases while two remain under investigation. Victims are demanding swift arrests and recovery of their life savings.
