Hyderabad: Another real estate scam has come to light in the city. This time, a company called Square and Yards is at the center of the fraud. The Cyberabad police have filed a case against the company for cheating customers through fake farmhouse villa investments.
The company’s owner, Baira Chandrasekhar, along with four others, has been arrested. They are accused of collecting Rs. 24 crores from investors by promising them double returns. Chandrasekhar attracted people by offering villas and farmhouses on the outskirts of Hyderabad, assuring them high profits.
The scam was exposed when several victims reported that they received neither the promised returns nor the properties. The police have started investigating the scale of the fraud and whether more people were involved. Further actions will be taken as the case moves forward.
