If you buy a flat at half price, there is a risk of fraud. If someone is offering a flat of Rs. 60 lakh in the market for Rs. 30 lakh, you should not jump in joy, but think about the negative aspects of it.
During the previous government in 2019, in areas like Kollur, Velimela, Tellapur, Pati Ghanpur, and Mokila, about 25 companies put flats and villas up for sale in pre-launch. At least 10 percent of the companies have not started construction seriously. While some companies have stopped projects, others are pretending to be doing construction. Some of them have stopped being visible to the buyers. Some of these builders are still fooling the public, even after months. The whole problem is being pushed on the local bodies. What will they do about the court cases? Some other developers are selling flats in pre-launches as usual, saying that the survey numbers are not theirs, even though there are court cases. However, buyers should exercise caution in such matters. At least in RERA projects, if the builder fails to build the project, then the RERA authority will take appropriate action. So, buyers should not be greedy; it is best to buy into RERA projects.
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