Hyderabad Villa Scam Targets Software Engineers With Fake Low Cost Offers
Cyberabad police are investigating a major Hyderabad villa scam after buyers allegedly lost nearly Rs 15 crore in a fake real estate project promising low priced luxury villas.
A large scale real estate fraud in Hyderabad’s outskirts has left several software professionals shocked after a villa project allegedly collected crores of rupees without legal ownership of the land. Cyberabad Economic Offences Wing officials have registered cheating cases against the management of SVM Aditya Homes following complaints from multiple buyers.
The alleged scam revolves around a proposed villa project called Tech Homes located in Kistareddypet near Aminpur. Buyers were reportedly promised luxury villas at prices lower than the market rate, attracting several IT employees looking for investment opportunities and future homes.
According to the complaint filed by software engineer B Ramarao from Serilingampally, company representatives approached him in October 2023 and claimed they were developing around 200 villas across nine acres of land in Aminpur. The project was marketed as an affordable premium gated community with modern facilities.
The company reportedly fixed villa prices at nearly Rs 1.79 crore and collected additional charges for amenities. Between November 2023 and April 2024, Ramarao transferred nearly Rs 80 lakh through cheques and RTGS payments believing the project was genuine.
Trouble began after the company handed over an unregistered memorandum of understanding to the buyer. When Ramarao independently verified the land documents, he allegedly discovered that the property was not registered in the name of SVM Aditya Homes and the firm had no legal authority to develop the project.
Further inquiries reportedly revealed that no construction work or layout development activity was taking place at the site. Investigators suspect that nearly 20 buyers were collectively cheated of more than Rs 15 crore through the villa project promises.
Based on the complaint, Cyberabad EOW police registered cases against managing partners N Srinivasa Babu, J Madhusudhan Reddy and others under multiple sections related to cheating and financial fraud. Officials said statements from several victims have already been recorded as part of the investigation.
Police have advised the public to thoroughly verify ownership documents, approvals and registration details before investing large amounts in real estate projects. Authorities also warned buyers against trusting attractive offers without checking legal clearances and land records.
