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- They promise Rs 50 lakh returns on a Rs 30-lakh investment on land
- If you invest double, the returns promised are a whopping Rs 1 crore
buy-back offers curse you rest of life Are you tempted to invest in the buy-back offers announced by some racketeers? The offers are very colourful and stir up prospective buyers to invest in those projects on the promise that they would be able to lead a peaceful life having invested the amount responding to the offers.
One offer reads like this: “Invest Rs 30 lakh and get back Rs 50 lakh in 20 months.”
Another offer is even more tempting and appears to be bent on making investors crorepatis. The offer goes like this, “Invest Rs 60 lakh and get back Rs 1 crore in 20 months.”
The offers sound very pleasant and tempting. They have the power to stir up the prospective buyers into action and borrow Rs 30 lakh and invest the fund in the project and relax. Everyone will jump with joy hearing the offer as it almost doubles the investment. No fool will ignore the offer that gives Rs 20 lakh more on an investment of Rs 30 lakh. But the question is, is it feasible? Can one expect such a huge benefit?
People should keep in mind that such offers are violative of SEBI rules. Some fraudsters have been promising returns of Rs 50 lakh after some term for an investment of Rs 30 lakh made in their projects. In fact, a racket is operating to woo buyers to their projects with the introduction of various schemes in the realty sector. The objective of the racket is to loot the public money.
They promise returns of Rs 47.5 lakh after 18 months if an investor buys an acre of land for Rs 30 lakh at Mominpet in Shankarpally. The returns promised are more than the bank interest rates and more lucrative than investments made in gold. The appreciation promised is as good as Rs 17.5 lakh in one and half years. Wait for 20 months, the investor will get Rs 50 lakh. They call it a buy-back offer.
If the appreciation is so huge, at least 20 percent of the population of Telangana would have invested their funds in such projects. Therefore, the people have been warned against investing their hard-earned money in schemes that have no approval from the RERA.
