Some persons have ventured into the realty sector without having any experience and perpetrating irregularities. They offer to sell flats in their project’s pre-launch offers and UDS of the properties.
Builders sell properties at Rs 4000 to 5000 per sft in Kompally, while those who offer pre-launch sale sell an sft of flat at only Rs 2000. In fact, it is not feasible to sell flats at such rock bottom prices if various parameters like cost of site, construction cost, expenses involved in obtaining permissions, maintenance costs and so on are taken into consideration. Moreover, as per the RERA rules, the builder is accountable for any construction defects for over 10 years. Experienced builders take them into consideration and will not compromise on quality and execute projects. But some builders promoting UDS sale and pre-launch sale of properties, intent on getting funds 100 per cent from the buyers upfront, pay no attention to these aspects. They are not focussed on completing the projects. Therefore, buyers should act with tact while buying such projects otherwise their hard earned money will go down the drain.
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