White Waters @Y scam row: 500 Hyderabad buyers cry fraud
HYDERABAD: A Moosapet resident has alleged that White Waters Constructions Private Limited and its directors cheated hundreds of flat buyers by executing multiple sale agreements for the same flats and mortgaging already sold units to raise bank loans, causing losses running into crores of rupees.
According to a petition received on January 30, 2026, through the Deputy Commissioner of Police (Crimes and Economic Offences Wing), Cyberabad, Bhogadi Sujatha, 53, a homemaker from Power Nagar Colony, Moosapet, alleged fraud in the “White Waters @ Y” residential project near Kukatpally Y-Junction.
Flat mortgaged after sale agreement, petitioner alleges
Sujatha stated that she booked a flat in the project in December 2018 after being informed by the builder that ₹1 lakh was required as a booking amount, followed by ₹10 lakh within a month. She paid ₹11 lakh by January 2019.
She initially booked flat No. 1208 with a proposed built-up area of 1,650 sq ft. The builder later revised the area to 1,945 sq ft and increased the cost. An agreement of sale was executed on February 16, 2022, fixing the consideration at ₹92,10,448, payable as per construction progress.
The petitioner alleged that after receiving nearly 90% of the flat cost, the builder fraudulently executed another agreement of sale for the same flat in the name of an alleged imposter, Kumar Sudhir Sheonandan Paswan, and availed a housing loan of ₹1.27 crore from SBI Home Loans, Kompally Branch, by creating a mortgage on her flat.
She claimed that the builder later admitted to the act and assured her multiple times that the loan would be cleared and the flat registered in her name, but failed to do so.
₹79.94 lakh paid, construction stalled
Sujatha claimed she paid ₹79.94 lakh towards the flat through multiple bank accounts between December 2018 and April 2024. Despite assurances, construction remained behind schedule. The complaint says, while the structure of a 15-floor building was raised, work eventually came to a complete halt.
The builder initially promised handover by December 2024, later extending it to December 2025. However, no progress was seen even after the revised timeline, she alleged.
Other buyers report double allotments
The complaint stated that several other buyers faced similar issues. Ghanta Prasad and Bodanapu Venkata Reddy alleged that after paying advances and securing home loans, they discovered their allotted flats were already sold to other parties. G Sunitha reportedly paid ₹40 lakh, while Bodanapu Venkata Reddy deposited ₹1.08 crore.
The complaint lists 15 specific buyers and their payments and claims many more have similar grievances.
The project, launched in 2018, comprises around 816 flats. Only Towers A and B are partially constructed, while Towers C and D have only basement work completed. Towers E and F have not been started, the complaint stated.
₹270 crore allegedly collected from 500 buyers
According to the petitioner, around 500 customers have invested and the amount involved is estimated at about ₹270 crore. The Real Estate Regulatory Authority (RERA) approval for Blocks A, B and C has already been extended twice and is valid until June 2026, after which buyers may face difficulty in securing loans.
The complaint named directors Ajay Salike, Tanay Salike and Vijaya Lakshmi Salike of White Waters Constructions Private Limited, alleging cheating, fraud, criminal breach of trust and misuse of buyers’ flats.
The petitioner urged police to take legal action against the directors and other responsible persons for causing financial loss and mental harassment to the buyers.
