Hyderabad | A major alleged real estate fraud case has surfaced in Telangana, triggering concern among property buyers and investors. The Economic Offences Wing (EOW) of Cyberabad Police has registered a criminal case against Hyderabad-based SVM Aditya Homes and its partners for allegedly selling luxury villas on land that was reportedly not owned by the company. Investigators believe the firm collected more than ₹15 crore from buyers through a proposed villa project named “Tech Homes,” despite lacking legal ownership of the land linked to the project.
The case came to light after several investors and homebuyers approached the police claiming they had been persuaded to invest in a premium gated community project proposed at Kistareddypeta village in Ameenpur Mandal of Sangareddy district. According to the complaints, the company promoted the venture as a high-end residential development with HMDA approvals, modern amenities and assured returns, encouraging buyers to invest large sums of money. However, buyers later alleged that neither construction activity nor legally registered sale agreements materialised.
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According to the FIR, one of the complainants is Bedadam Rama Rao, a software engineer employed with a multinational company. Police said company representatives contacted him in October 2023 and introduced the “Tech Homes” project as a large-scale residential venture spread across nearly nine acres. He was allegedly assured that all required approvals would be obtained and that the villas would be delivered within the promised timeline.
The complaint states that Rama Rao later visited the company’s office in Kondapur and agreed to purchase Villa No. 92. The villa was presented as measuring 183 square yards with a built-up area of around 3,043 square feet. The total cost of the property was fixed at approximately ₹1.79 crore. Investigators said the complainant transferred nearly ₹80 lakh to the company through RTGS payments and cheques between November 2023 and April 2024.
Police investigations further revealed that several buyers were allegedly issued only non-registered Memorandums of Understanding (MoUs) on ₹100 stamp papers instead of legally registered sale agreements. The company reportedly assured customers that registered sale deeds and development agreements would be executed after completion of payments or bank loan approvals. Some investors were also allegedly promised refunds with bank interest in case of financial loss.
Authorities said the alleged fraud extends far beyond a single buyer. Preliminary findings indicate that at least 20 investors paid different amounts to secure villas in the project. FIR details reportedly show payments ranging from ₹26 lakh to ₹1.90 crore. Investigators estimate that the total amount collected may have crossed ₹15 crore.
The controversy deepened after buyers allegedly discovered that the land associated with the project was neither registered in the company’s name nor legally owned by the accused individuals. Complainants also claimed that despite collecting crores of rupees, the company failed to undertake significant layout development or villa construction work at the project site. The revelations reportedly triggered panic among investors, many of whom later approached the police seeking legal action.
Based on the preliminary inquiry, Cyberabad EOW registered Crime No. 54/2026 under Sections 318(4), 316(2) read with 3(5) of the Bharatiya Nyaya Sanhita (BNS), along with Section 5 of the Telangana State Protection of Depositors of Financial Establishments Act, 1999. Investigators are now examining financial transactions, land ownership documents and other aspects linked to the project as part of the ongoing probe.
