In what is emerging as a massive real estate scam, Hyderabad-based Jayatri Real Estate Pvt. Ltd. (also known as Jay Groups) has allegedly defrauded hundreds of middle-class investors of over ₹300 crore through false promises of residential plots in Gopanpally.
Buyers were lured with flashy brochures, aggressive pre-launch marketing campaigns, and promises of prime plots at discounted rates.
The company showcased a sprawling corporate office in HB Colony 6th Phase, complete with over 100 employees, to appear credible.
Investors were promised plot handovers within two years, with individual investments ranging from ₹20 lakh to ₹1.8 crore. However, once the deadline passed, buyers were met with repeated delays.
Upon visiting the site, several buyers were shocked to learn that the land didn’t belong to Jayatri at all — it was owned by another firm, confirming suspicions of fraud.
The prime accused, Kakarla Srinivas, reportedly launched Jayatri Group in February 2021 with 19 directors. Their first project, Hilton Jaya Diamond, received heavy promotion.
Srinivas and others were arrested but are currently out on bail. Sources also link them to a similar scam in Rajahmundry.
Frustrated buyers revealing that despite filing complaints with the police, Enforcement Directorate, and Human Rights Commission, no meaningful action has been taken so far.
"We are middle-class families who invested our life savings. The government must step in, arrest the culprits, freeze their assets, and bring justice," said one victim.
With public pressure mounting and victims now organizing collectively, legal experts urge affected individuals to pursue both civil and criminal action while forming a registered victims’ association to strengthen their case.
