- Promises by the Urban Rise project in Bachupally
on MoU documents differ from reality - Sales taken up unauthorised before RERA approval
- Plans changed after RERA approvals
- Flats and floor rise increased from
1,890 flats on 22 floors to 2,596 flats on 33 floors - UDS land reduced
- No response from the company to buyers questions
- Initially promised flats upto 3 bedrooms, but increased to four bedrooms
If anyone promises flats for less than the market price, do not rush to buy them without ticking all precautions on your checklist. In case of committing such a mistake, you might end up like the people who purchased flats in the Urban Rise project at Bachupally. So what did this company do?
Three years ago when the Urban Rise project of Alliance Group was selling under a pre launch scheme, it promised buyers that it would only build 1,890 flats with floor rise upto 22 floors. A large number of flats were sold with the help of channel partners who were paid handsome commissions. But the project did not progress further due to Covid-19 pandemic and other issues.
Now that the company obtained all approvals including RERA, it was the turn of the buyers to get shocked. As against an MoU (Memorandum of Understanding) signed with the buyers, the company promised 22 floors which have been now increased upto 33 floors in one go. Thus, the company has increased the total number of flats from 1,890 to 2,596 flats i.e. an increase of nearly 700 flats.
* Buyers have realized that a sudden increase in the number of flats by 700 will reduce the UDS land, assured to them. There has been no proper response to the fears expressed by the buyers from the marketing staff of the company. According to the agreement, those who buy a flat of 1,045 sq.ft size will get 15.94 sq. yards of UDS land. Majority buyers are now left wondering whether the rise in the number of flats will reduce their UDS land size.
Some buyers are demanding that the company management immediately clarify on the exact extent of UDS land being promised to them. They are not inclined to lose even an inch of their share of UDS land which was promised at the time of signing the agreement of sale. If the UDS land reduces, they want the company to own up the responsibility and accordingly reduce the price before the final payments are made.
* During pre launch sale, the company assured to build only 2, 2.5 and 3 bedroom flats. But after obtaining RERA approval, the company came up with 4 bedroom flats. When some buyers approached the company staff for clarification, they reportedly advised the former to pay an extra amount as per the new pricing. Irked by their response, some buyers suggested that people should opt for local developers rather than trusting such corporate builders.
Further, the buyers were also not informed about payment of GST during the pre launch sales, but were being charged additionally after getting RERA approval. If anyone starts questioning, they are being asked to pay while taking possession of the flat. Hence, one should think twice before buying properties in pre launch sales and come to a final decision. Otherwise, there is all possibility that certain developers like the Urban Rise company, might become greedy and deceit you. So, beware of pre launch schemes.
Note: Have you bought a flat in UDS or Pre Launches in any project? Are you facing issues with the builder? After paying money, has your project not yet started? Is the builder getting delays in approvals etc. Please write your issues or queries to regnews21@gmail.com. Our Experts will answer your queries.
