CCS police on Sunday arrested Bhuvanteza Infra MD Chakka Venkata Subramaniam, who was harassing the home buyers without starting the project after collecting hundreds of crores from the buyers in the pre-launch scheme.
Recently, about twelve buyers complained with the CCS police. They launched a pre-launch project and also advertised that they were selling flats for a lesser price. Common and middle-class people, believing in their schemes, made 100 percent of the payment. However, as the years passed, the buyers began to worry as the project didn’t take off. Not knowing what to do, the buyers filed a complaint with the CCS police. In the police complaint, they stated that Bhuvanteza MD Chakka Venkata Subramaniam is subjecting them to mental anguish by not starting the apartment and also not returning the money. It is reported that the CCS police, who began the investigation, arrested him. Some of the victims were shocked after hearing this news. It is learned that others are worried about whether they will get their money back or not. Others expressed happiness over the arrest of Subramaniam. They are waiting for an official confirmation regarding his arrest.
* The previous government did not care much about prelaunch schemes. A full-fledged RERA tribunal has not been set up. Many new people come into this field and sell in pre-launches, but they still turn a blind eye to it. Prelaunch promoters are also granted RERA permission by the TS RERA Authority. With this, some builders began to think that pre-launches were not a crime. However, with the arrest of Bhuvanteza’s Chakka Venkata Subramaniam, real estate circles say that the prelaunch operators will be hampered to some extent.
