HYDERABAD: Central Crime Station (CCS) investigators have filed a chargesheet against 13 individuals in connection with 19 cases registered against Sahiti Infratech Ventures India Pvt Ltd in 2022. The CCS’s investigation covers a total of 57 cases against the company and its directors, with additional chargesheets expected after further investigation.
On Monday, a team led by ACP KM Kiran Kumar, under DCP N Swetha’s supervision, submitted a 155-page chargesheet citing 294 witnesses to the metropolitan sessions judge in Nampally. This chargesheet includes the primary case registered at CCS on August 1, 2022, alongside 18 other re-registered cases linked to the Sahiti Sarvani Elite project at Ameenpur.
The accused include Sahiti Infratech Ventures, its managing director B. Laxminarayana, his wife and director B. Parvathi, their son and director B. Satvik, and marketing director S. Purnachandra Rao, among others.
The case was originally filed on August 1, 2022, following complaints from victims who alleged they were deceived through pre-launch offers for a real estate project in Ameenpur. Numerous similar complaints were subsequently registered in Sangareddy, Hyderabad, and Cyberabad, leading to their transfer to CCS for re-registration.
According to police reports, the accused promoted the Sahiti Sarvani Elite project on 23 acres, featuring 11 towers, each 33 stories high. “In 2019, a pre-launch offer was made at Rs 2,200 per square foot, well below the market price, leading to losses of Rs 506 crore for around 1,200 victims,” stated an investigator from CCS.
Pre-launch deposits
Law enforcement noted that a similar strategy was employed to gather pre-launch deposits for 16 additional projects across areas like Madhapur, Bachupally, Kompally, Tellapur, and Nallagandla in Hyderabad, as well as two sites in Vijayawada. Currently, 36 cases related to these projects are under investigation.
In total, approximately 2,500 victims have incurred losses nearing Rs 3,000 crore across 17 real estate projects, as disclosed by the investigator.
Police informed the court that supplementary chargesheets would follow for the other 36 cases once investigations conclude. So far, 55 properties linked to the accused have been attached.
