Sri Lakshmi Constructions Owner Vijayalakshmi Arrested for ₹300 Crore Fraud

Gurram Vijayalakshmi (48), the owner of Sri Lakshmi Constructions, was arrested at Shamshabad while attempting to flee the country after allegedly committing a ₹300 crore fraud. Vijayalakshmi, a resident of Nizampet, had established construction firms under the names Sri Lakshmi Constructions, Sri Lakshmi Mags Constructions, and Bhavana GLC Cribs.

In 2018, she launched a housing project in Mallampet, comprising 325 villas. However, only 65 of these villas had legal approvals, while the remaining 260 were sold by presenting unauthorized approvals from the local panchayat. Following complaints about the illegal nature of these villas, an investigation was conducted, leading authorities to seize 201 villas in 2021. Despite this, Vijayalakshmi allegedly used her influence to re-register some of the properties. Additionally, 26 villas were identified as falling within the Full Tank Level (FTL) and buffer zone, leading to the demolition of 15 villas by the Hyderabad Metropolitan Development Authority (HMDA) in September.

A total of seven cases have been registered against Vijayalakshmi at the Dundigal Police Station. On Wednesday night, she arrived at Shamshabad Airport in an attempt to leave the country. During passport and visa verification, immigration officials identified lookout notices against her and took her into custody. They subsequently informed the Dundigal police, who arrived at the airport, detained her, and later remanded her to judicial custody.