Under the mask of low prices and special offers, the private real estate companies are seen reaping profits in crores in Telangana. In one such case that came into the limelight through ToliVelugu’s bold sting operation on August 14th, Credai property show housed high level cheating.
Apart from selling property that doesn’t exist, the fraudulent even claim to get the non-existent properties registered. With the ToliVelugu exposing the atrocities, Suvarnabhumi reportedly backed off. Claiming that they have a land Vikarabad District Moinpet Zone Ramnathgupally with survey nos. 4 to 44, the fraudulent promised to pay back Rs 1 crore in 20 months after paying Rs 60 lakhs.
The company even entered into an MOU with customers that they can keep the registration documents with them until they get the whole amount. MOU is sad to have all details including land details and survey numbers. While ToliVelugu acquired one such MOU, it was specified that they would register 1,400 yards of the land they have developed if they return back the acre land after 20 moths.
They will claimed that they have a venture in 300 acres and would get DTCA permissions in a couple of years. Under the mask of this MOU, Suvarnabhumi was learned to cheat numerous customers in property show. While the situation of many customers remained in oblivion, Suvarnabhumi refused to respond.