Over 100 developers have been selling commercial office space in the limits of Cyberabad. They have been advertising guaranteed rental income for an investment of Rs 10 lakh to buy 200 sft of office or shop space. People should not be lured by such offers. They should check everything thoroughly before taking the final call.
Jaya Group has been building a commercial complex in Gopanapalli in Hyderabad West with the title Western Galaxy on a 4.2-acre site. The total plinth area of the commercial place would be 96000 sft distributed among nine floors. If anyone buys 200 sft of office space spending Rs 10 lakh, it offers to pay a rent of Rs 50 per sft till the completion of the construction. Once the construction is completed, it offers a rent of Rs 100 per sft. As it is there is no demand for over 30 crore sft of IT and commercial space in Hyderabad because of the pandemic situation.
Under such a scenario, offers of guaranteed rental income fuel several doubts in people’s minds: When the project is going to be built and when it is going to be completed? If at all, construction of these commercial complexes is launched and when will they be given on lease? Is there any feasibility at all? Therefore, the buyers should exercise caution while responding to advertisements from such developers. People should put their best foot forward only after ascertaining all facts, otherwise the hard earned money of people will go down the drain.
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