Beggars or builders?

Festival fever in realty
Buyers, do not jump to conclusions if the rates are low.
Make a checklist before buying

It is very surprising to see the attitude of a few home buyers. No one understands why houses are being bought and why they are paying so much. If any builder announces that they are selling a Rs 1 crore-worth flat for just Rs 50 lakh, they are going to any extent to give all the money they saved up so far to the builder in order to acquire that villa or flat. Moreover, even the receipt is not taken properly. They are also okay if the flat is handed over to the buyer after four or five years. A large percentage of people buy in pre-launches and get cheated. Due to the presence of such home buyers in the market, people from other sectors are also entering the construction sector and are taking land and starting pre-launches. Especially during the time of COVID, such builders entered the market and were badly cheated by the buyers.

Bhuvanteja Infra is a perfect example of this. This company has not built a single apartment in the past. The venture is not fully developed. However, people rushed to buy a flat for Rs 13 lakhs and Rs 16 lakhs. After years, they realise that they have been cheated, and they are wandering around the office, not knowing what to do. There are many such firms in Hyderabad. So, during Dasara and Diwali, if someone announces a festival offer, a buyer must think twice and investigate the respective organisation thoroughly. They need to find answers to questions like: When was the original company started? Where did it start? How many projects did it complete? Did they deliver the flats to the buyers on time? Among others. One should take a step forward by fully knowing such things.

Begging buyers throughout, some builders disguise themselves as builders and sell flats and villas at the rate they want. Without thinking about whether the flat is being sold for the actual rate, people are acting as if it is enough to just give the money to the owner of the land. If a three-storey apartment in Kollur is sold for Rs 3,000 per sq ft, how will the actual structure be built? If the construction cost is Rs. 3 thousand per square ft, can the builder complete the apartment and give it to you? Buyers should think about the logic behind these.

Some builders are telling lies and luring buyers. Builders’ behavior’s changes during and after the payment. Their gimmicks are in such a way that a buyer will be surprised to know that one can also cheat in such a way. So, don’t fall into the trap of such tricksters. Don’t trust prelaunch under any circumstances. Will the person who sells flats at a low rate deliver a quality house on time? The point should be carefully observed. After that, the final decision should be made in the selection.