People Lose Rs.3 Crore in Real Estate Scam
Victims said that while those who paid in the first phase had their registrations completed, those in the second phase have been left without any contact or information
Hyderabad: Over 50 people have allegedly lost more than Rs.3 crore in a real estate scam involving Klay Infra and Developers, which promised to sell flats at low prices. According to the victims, the scam began near popular shopping malls, where people were offered coupons. Later, they received phone calls claiming that they had won prizes and were offered plots at discounted prices.
One of the victims, who requested anonymity, said he had shared his contact number at a mall and later received a call saying he had won a prize.
When he visited the location as he was directed to, company representatives explained details about a project being offered at low rates. He was told to pay the amount in instalments over three years, after which the registration would be completed. He ended up paying ₹27 lakh.
“In January 2025, I received an email saying the registration would happen by the end of the month. In February, I received another email which again said that the project registration would be done by this month. Since then, there has been no response from their side,” the victim said.
Another victim, who paid Rs.7 lakh, said Klay Infra and Developers were marketing ventures on behalf of different landowners. “There are many poor and innocent people who have fallen into this trap,” he added.
Victims said that while those who paid in the first phase had their registrations completed, those in the second phase have been left without any contact or information. “We don’t know whether it is an internal issue or if they have used all our money, but we have not received any intimation or response from them,” said another victim.
“I come from a poor family and invested all my life’s savings into this project, hoping to secure a home for my children. Now I don’t know what will happen. We just want justice,” said one of the victims, an electrician.
The case has now been transferred to the Economic Offences Wing (EOW). Officials said that from 40 of the 53 victims alone, the amount involved was Rs.3.11 crore. “The case is under investigation and we are working to resolve it,” EOW officials stated.