In Hyderabad, a realtor has been arrested for his alleged involvement in forgery, cheating, and conspiracy, having collected Rs 1.45 crore under the pretense of selling plots in a fabricated and unauthorized layout. K. Satish Chandra Gupta, the proprietor of Sai Surya Developers and a native of Nellore in Andhra Pradesh, was apprehended by the Economic Offences Wing (EOW) of the Cyberabad police.
Gupta, along with his associate Narendra Surana from Bhagyanagar Properties, is accused of creating a fictitious layout named Sai Tulasi Enclave – IV and Shanmukha Nivas on the same land in Vattinagulpally. The duo allegedly entered into a sale agreement for a plot priced at Rs 3.25 crore, collecting Rs 1.45 crore as an advance from the complainant, a Nacharam resident, in February 2023. However, the suspects fled without registering the plot, defrauding the victim.
Officials revealed that Gupta has a history of similar offenses, with 11 previous cases involving the same modus operandi. The investigation is being conducted by J. Venkateswarlu of the EOW, supervised by K. Prasad, the Deputy Commissioner of Police for the EOW, Hyberabad.
K. Prasad has urged citizens to remain vigilant against unauthorized layouts and avoid falling prey to fraudsters and cheats.