Ramesh and his brother Ayyasami, in collusion with some of their relatives, had forged the documents of the piece of land, which was acquired by the Tamil Nadu Housing Board in from their father in 1998.
They had sold the land to one Ramasamy and his daughter in law for Rs.One crore, a few months ago, police said.
Realising that they had been cheated, the buyers lodged a police complaint on October 13 last year.
The two accused, absconding since then, were arrested today and produced before a court which remanded them to judicial custody.
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