Thu Jan 30 21:30:00 IST 2025: ## Real Estate Tycoon Arrested for ₹300 Crore Fraud
**Hyderabad, India** – Gurram Vijayalakshmi, owner of Sri Lakshmi Constructions, was arrested by Dundigal police for allegedly defrauding investors of ₹300 crore through the illegal construction of villas. Vijayalakshmi was apprehended at Shamshabad Airport late Wednesday night while attempting to flee the country.
Vijayalakshmi, 48, operated several construction companies, including Sri Lakshmi Constructions and Sri Lakshmi Magnus Constructions. She is accused of constructing 325 villas in Mallampet, with only 65 having proper HMDA (Hyderabad Metropolitan Development Authority) approvals. The remaining villas were constructed with fraudulent panchayat approvals. She sold approximately 260 of these illegally constructed villas.
Following complaints, a 2021 investigation by the then District Collector, S. Harish, led to the seizure of 201 villas. Despite this, Vijayalakshmi allegedly used her influence to re-register these properties. Authorities later discovered that 26 of these villas were built on government land within the FTL (Flood Threat Line) and buffer zone of a local lake. In September 2023, 15 villas were demolished under the supervision of the Hyderabad Metropolitan Water Supply and Sewerage Board (HMWSSB).
Seven cases were filed against Vijayalakshmi between 2021 and 2024. A further case was registered in August 2024 after revenue officials discovered she was constructing five villas on encroached government land. Additional cases were filed based on complaints from local residents.
Immigration officials at the airport intercepted Vijayalakshmi as she attempted to leave for the United States. She was subsequently handed over to Dundigal police. She was presented before a court and remanded. The police investigation is ongoing.
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