Cyberabad EOW arrests Sai Surya Developers owner in land sale scam

Hyderabad: The Economic Offences Wing (EOW) of Cyberabad Police has arrested an individual involved in forgery, cheating, and conspiracy related to a fraudulent land sale scheme. The accused, Kancharla Sathish Chandra Gupta, proprietor of Sai Surya Developers and a resident of Raidurgam, Hyderabad, allegedly collected ₹1,45,00,000 from unsuspecting customers under the guise of selling plots in fabricated and unauthorised layouts in Vattinagulapally village.

A case has been registered against Sathish Chandra Gupta under Cr. No. 82/2024, invoking Sections 420, 406, 467, 468, 471, and 120 (B) of the Indian Penal Code at the EOW Police Station in Cyberabad.

The complainant, Pothuganti Gopal Reddy, a resident of Nacharam, Hyderabad, reported that Sathish Chandra Gupta, along with another accused, Narender Surana, managing director of M/s Bhagyanagar Properties Limited, conspired to create fake layouts named Sai Tulasi Enclave-IV and Shanmukha Nivas on the same land. In February 2023, they made an agreement to sell a plot for ₹3,25,00,000, collecting ₹1,45,00,000 as an advance, but failed to register the plot, thereby cheating the complainant.

According to police, Sathish Chandra Gupta has a history of criminal activity, with 11 previous cases involving similar fraudulent practices, through which he reportedly collected crores of rupees from innocent victims.

K. Prasad, Deputy Commissioner of Police for the EOW in Cyberabad, has urged the public to be vigilant against unauthorised layouts and to avoid becoming victims of fraud. The department is committed to prosecuting those who engage in cheating and ensuring justice for victims.

The investigation is ongoing, led by J. Venkateswarlu of the Economic Offences Wing, under the supervision of Deputy Commissioner K. Prasad.