- Government must take action
- Builders associations too are responsible to stop fraudsters!
- Builders associations not cancelling membership of fraudsters
- Are they partners in the crimes of these fraudsters?
- Waiting for the construction sector to ruin itself?
- No lessons learnt from NCR issue?
King Johnson Koyyada: If there is a hole in the boat, one would immediately try to fill it up. But what happens if some oversmart people decide not to act and wait till the boat owner fills these gaps? By the time he comes and repairs the boat, we should not be surprised if the boat sinks and all the passengers drown. Though the boat owner takes all the precautions to prevent such accidents, the passengers too must act together to survive in case of unexpected situations.
The Hyderabad construction sector is suffering with a similar problem due to UDS and prelaunch projects and if the construction associations wait till the government responds to act against the scamsters, it might be too late. Unless the builders associations act cleverly, they might fail to stop the fraudsters and it could destroy the construction sector.
Although the third wave of Covid-19 ended, sales in the construction sector continued to decline. As was admitted by the builders associations, the pre-launch and UDS sales appear to be the main reason. Initially, CREDAI Hyderabad provided complete information to the RERA officials about the companies which were taking up illegal sales. They even held a press conference and announced that the UDS/pre-launch sales were causing lot of loss to the real estate sector.
However, no concrete efforts were made to curb the illegal sales except for some vain attempts. These associations are aware of its members who are taking up prelaunch or UDS sales without prior permissions, but are not taking any action against them. Further, these major companies also establish massive stalls at the real estate expos organised by CREDAI Hyderabad attracting huge number of people.
A group of home buyers who paid entire advance amount for the flats they purchased in a project under UDS/prelaunch sale four years ago and are still awaiting possession of their flats, staged a demonstration in front of the office of this company recently. Despite having such strong evidence of fraud and some of the members seeking action against these fraudsters, there are allegations that the construction associations are unwilling to take any action.
