Aspire Realty Pre-Launch Scam in Kollur

* Buy villa now for Rs 2.4 crore to avoid regret
* They promise cost escalation of villa to Rs 6 crore in six months

A 20-year veteran builder has been building 1066 flats in Miyapur on a 10-acre site and developing commercial space at Shilparamam with a total plinth area of 50,000 sft. But, where is the need for such vastly experienced builder to sell units in pre-launch offers at Kollur on outskirts of Hyderabad. In fact, did the builder have enough money to complete the two realty projects? Otherwise, it is a ploy on the part of the builder to raise money to pay the land lowers in Kollur?  Did anyone threaten suicide or to launch massive protests against the builder if he did not build villas?

In Kollur, the builders promise heaven claiming it as a bumper offer. The cost of each villa is only Rs 2.4 crore. The total amount should be paid in one month.  In fact, they claim the cost of each villa in the vicinity at Rs 3.2 crore. They promise the escalation of the cost of the villa in six months to Rs 6 crore. They instigate the buyers to act immediately to avoid disappointment. They claim the offer to be the greatest of all offers. The essence of their campaign asks people to give the full money scratching the bottom and take the village once they complete the villas. They would want the customers to keep mum till such date. They would say that the offer is applicable to only 50 villas.

When Reg News contacted the representative of the real estate company selling villas as part of pre launch offers, the names of Aspire Spaces and Bhava Realty came to light. The designers of the project was Genesis Planners. The realtor is supposed to release adverts only after taking all necessary permissions, according to the Telangana RERA. Then only they should sell the units. However, a veteran of 20 years in real estate is selling the units as part of pre-launch officers. What is the rationale behind? He should have sold the villas after securing all permissions. As per RegNews Source, BRS Ex Minister is behind this pre launch project. But, how come elected representative will behave against  his own government rules?