New morning, new pre-launch by Incor!

CREDAI – Colliers Developer Sentiment Survey 2024

A member of the Credai Hyderabad group..
With pre-launches, Credai brand image is tarnished.
Risk of losing confidence among buyers
Membership in such builders should be cancelled immediately.
6500 per square feet if bought now..
That too only if 100 percent money is paid..
There is an option to pay 50-50 percent if needed!
It’s Rs. 8,500 during the project launch..

Builders who have recently entered the construction sector are doing pre-launch campaigns, which can be forgiven to some extent, but Incor, which is involved in building a prestigious gated community like PBEL City in Hyderabad, has taken everyone by surprise by posting pre-launch announcements on social media. Despite knowing the fact that flats or villas should be sold in pre-launches without RERA permission, it is selling villas in pre-launches near Shankarpally. In the past, Incor also sold flats in pre-launches in Patancheru. But, at that time, since the government did not appoint a permanent chairman to RERA, no one bothered about it. Now that a full-fledged chairman has been appointed to RERA, it is to be seen what kind of action he will take against the Incor organisation.

Incor launched a project on Sunday morning at Mehtab Khan Guda, located on Vikarabad Road after crossing Shankarpally. This is a 185-villa project on 51 acres. At first, it was announced that they were constructing villas between 600 and 720 yards. Each villa size is between 5400 and 6500 square feet and is designed to be 2 floors high. The company is running a campaign on social media that says the starting price is around Rs. 3.5 crore. According to RERA regulations, TS RERA should levy a fine of 10 percent of the project value. Also, the real estate sector is eagerly waiting to see how much fine the RERA authority will impose on this prelaunch project. The matter of question is: doesn’t the Incor company MD, who is already continuing as a member of Credai Hyderabad Construction Society, know that pre-launches should not be done without RERA permission?

Credai Hyderabad

membership be cancelled?

Every Credai builder will take membership after signing the code of conduct to start construction only after receiving government permission.

Everyone must follow this rule without fail. However, many Credai builders in Hyderabad do not care about this rule at all. While fellow builders are doing pre-launches, the Credai Hyderabad community also seems to be getting into that light. With this, Credai’s brand image among people is getting damaged. If this continues, in the coming days there will be no situation where the buyers will trust Credai Builder. If they want to retain Credai’s brand image, the construction committee should immediately discuss this issue and take a stand on prelaunch, UDS, and buyback offers. If this continues, there is a risk that Credai will lose its value in front of the new government.