Hyderabad: The Cyberabad Economic Offences Wing (EOW) police have registered a case against White Waters Constructions Private Limited and its directors for allegedly cheating homebuyers by collecting huge sums of money for flats near the Moosapet Y Junction and failing to deliver the promised properties.
According to the complaint, the company allegedly collected Rs 9.82 crore from 15 buyers and cheated them, including by carrying out double registrations of flats. The complainant also claimed that the firm had collected around Rs 270 crore from nearly 500 people under the same project.
Case registered
The case was registered by the Cyberabad Economic Offences Wing against White Waters Constructions Private Limited following a complaint filed by a city-based woman.
As per the complaint, in December 2018, the woman visited the company’s office near Moosapet Y Junction, where the directors — Ajay Salike, Tanay Salike and Vijayalakshmi — informed her that the firm was constructing a housing project comprising 816 flats. She initially paid Rs 11 lakh to book a flat measuring 1,650 sq ft.
Later, the builder allegedly informed her that the flat size had been increased to 1,945 sq yards and raised the total cost to Rs 92.10 lakh. Under pressure from the company, she entered into a sale agreement in 2022.
Construction incomplete beyond deadlines
Though the builder promised to hand over the flat by December 2024, and later extended the deadline to December 2025, the construction was not completed.
When the woman made enquiries, she discovered that the flat allotted to her had allegedly been registered in another person’s name and that a loan of Rs 1.27 crore had been taken against it.
When confronted, the directors reportedly assured her that the loan would be cleared and the flat registered in her name. However, despite several months passing, the loan was not repaid, and the registration was not completed.
Subsequently, the complainant learnt that at least 15 other buyers had paid a total of Rs 9.82 crore to the company under similar circumstances.
She then approached the police, following which a case was registered against the company’s directors.
Police said an investigation is underway to ascertain the extent of the alleged fraud and to identify other affected buyers.
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