- Trying to lure buyers under one scheme or other
- Goal is to trick buyers and get money
In the recent past, there are numerous cases of plots, flats and even commercial properties being sold under prelaunch schemes promising guaranteed returns and rents. But a company has put up the land for sale in pre-launch offer. The employees who work in such a fraudulent companies and the agents who sell their properties, should remember that they are likely to land up behind the bars. So, please beware. Further, those who have invested in Sahithi and Jaya Group companies are left confused as they are unable to find a solution to get back their money and undergoing trauma. If you don’t want to join the list of such people, it is best not to buy from companies like Gayatri Infra. Here is why.
No matter which remote area you visit in Telangana, a large percentage of young people are involved in real estate transactions. Especially, after 2017, this trend has picked up momentum. The State government has upgraded the Nagara Panchayats into municipalities, some municipalities to municipal corporations and even created new urban development areas, which led to sudden increase in land prices. Thus, the number of venturers have increased and land transactions have increased. Under these circumstances, the prices of plots and flats have also increased in Hyderabad and its surroundings.
Taking advantage of this situation, some real estate fraudsters started selling plots and flats in pre-launches. They collected complete amount from buyers by offering plot or flat at a lower price. If the developer is genuine and delivers the flat or plot as per the deadline, there will be no problem. But there is a problem for those who fell prey to fraudulent builders like Sahithi and Jaya Group where they invested their life-long savings. As RERA ignored them for some time, these scamsters entered the market and lured innocent people with false promises to give plots and flats for a lesser price. Recently, a realtor in Sadashivapet has announced a new scheme for agents.
Gayatri Infra employees beware
The police have also registered an FIR against the employees who worked in the respective companies in the Sahithi Group scam. So, if the company doesn’t fulfill promises made during the prelaunch sale, the buyers will hold the employees responsible. Similarly, the agents are advised not to fall for commissions and cheat their relatives and friends by involving them in such schemes. Agents who want to do good for their friends, are best off making them buy properties in RERA approved ventures.
