Hyderabad: Victims of a real estate investment scheme launched a protest in Nalgonda on Monday after a private firm lured them with high-return promises and then failed to deliver either land or payments. The company claimed that a deposit of ₹4 lakh would secure one gunta of land, a monthly interest of ₹16,000 for 25 months, and ₹8 lakh at the end of the term. Protesters said the firm paid interest to only a few investors and avoided showing any registered land.
The victims assembled near the residence of Rapolu Prakash, the firm’s legal adviser, and demanded accountability. Police reached the location, moved Prakash to the Two Town police station, and tried to control the crowd. The protesters followed him to the station and continued their agitation until evening. They later submitted a complaint to district SP Sharath Chandra Pawar and sought immediate action.
Victims allege huge real estate investment collections
Two years ago, 12 Wealth Capital Services Private Limited started operations in Kukatpally, Hyderabad. Victims said the promise of easy returns convinced common citizens, employees, and officials to join the real estate investment plan. They estimated that the firm collected nearly ₹330 crore across both Telugu states.
Investors explained that the company issued agreement papers showing plots in Ramsagaripalli village of Andole mandal in Sangareddy district. The firm used ₹100 bond papers and assigned survey numbers to one-gunta plots for each ₹4 lakh deposit. Protesters said the documents looked fake and offered no legal value. Local agents enrolled more than 300 people from the erstwhile Nalgonda district in the scheme.
They also pointed out that the same company earlier faced a case filed by the Economic Offences Wing under the Cyberabad commissionerate, which raised further doubts about its operations.
Protesters press for action over real estate investment fraud
Protesters said the firm dodged questions about land registration and blocked repeated attempts to inspect the plots. They argued that these evasive tactics exposed the fraud. The victims urged the district police to open a detailed investigation and secure their lost money. Officers assured them that they would examine the issue.