Nation Crime 14 Jun 2016 VVR Housing MD arres ...

VVR Housing MD arrested for fraud

DECCAN CHRONICLE.
Published Jun 14, 2016, 1:26 am IST
Updated Jun 14, 2016, 1:26 am IST
Vasudeva Rao purchased 400 acres from around 200 farmers in Mahbubnagar district.
He converted it into plots and sold them to some people from Hyderabad.
 He converted it into plots and sold them to some people from Hyderabad.

Hyderabad: A realtor who cheated around 200 farmers in Mahbubnagar district by purchasing their lands and selling them off to hundreds of people without clearing the farmers’ dues was nabbed by the police on Monday. Police said that V. Vasudeva Rao, the owner of VVR Housing, had been in the real estate business since 10 years.

Nearly a year ago, Vasudeva Rao purchased 400 acres from around 200 farmers in Mahbubnagar district. He converted it into plots and sold them to some people from Hyderabad. Some days ago, when buyers went to occupy the lands in Mahbubnagar, the farmers did not allow them saying that they have not got money from Vasudeva Rao. The angry buyers asked Vasudeva Rao to give the plots or return their money. Knowing that their lands were sold without clearing their dues the farmers approached the Punjagutta police and filed a complaint.

 

“Sixteen people have lodged complaints. Many others are coming,” SI Gurunath said. Police found that each farmer had sold two acres and Vasudeva Rao had purchased them by paying around Rs 2 lakh to each. Police said that he is an accused in similar cheating cases at Dundigal, Miyapur, Gachibowli and CCS of Hyderabad and Cyberabad. He was arrested and will be produced in court.

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Location: India, Telangana, Hyderabad




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