- Real Estate Guru effect
- Latest directive from the Municipal Administration department
The State Government has set its sights on the illegal sale of flats in pre-launch projects without obtaining permissions from either the GHMC or the HMDA and without registering the property with the RERA.
It advised buyers to verify whether the project has necessary approvals from authorities prior to buying pre-launch flats. Some builders, in spite of having secured no permission from relevant authorities, have been inserting advertisements in social media to woo buyers. Such incidents were brought to light by the Real Estate Guru.
Responding to such instances, Municipal Administration Department, in a latest statement, made it clear that builders, as per the RERA Act, should first obtain approvals from concerned authorities.
Only after registering the property with the RERA, it should resort to sale of the flats. Buyers of flats in RERA unregistered properties would have no guarantee to the money invested. Therefore, the people have been advised to take care.
