Invest 1 crore,
getback 1.5 crore
- The magic of some realtors
Some companies are buying land at the price of Rs 1 crore per acre. They are assuring that the price will shoot up to Rs 1.5 crore per acre within 18 months i.e. an increase of at least Rs 50 lakh. But why would the land price go up, when the market isn’t doing well? While there is a decline in number of buyers in the market, who will invest such huge amount? Some realtors who have observed this, are trying to fool people by hiking the prices by themselves. They are falsely promoting that land purchased at Rs 1 crore in the pre-launch, will increase to Rs 1.5 crore after the approval of DTCP. Currenly, the realty market has slowed down and the sales have reduced and several developers are facing challenges in selling their properties. But others are fooling the buyers with false promises. Buyers complain that as long as such realtors who adopt such fraudulent means are in the city’s realty market, it would be difficult trust anyone.
