We have been hearing the term “pre-launch” pretty much often since the year 2018, and these days, every homebuyer is being extra cautious about pre-launch offers in Hyderabad. Especially after the COVID season, it feels as though the city is infected with the “pre-launch” virus, as it is affecting the common and middle-class public both physically and mentally.
We have compared the pre-launch offers and scams with COVID because it is equally affecting the common public these days, and in fact, in some situations, it is devastating them after being cheated of their hard-earned money. Although the RERA has set multiple guidelines against pre-launch offers, some mischievous builders are still creating a problem by announcing such faulty offers and looting the public of their money. However, the thing to be noted here is that even the builders who collect Rs 40 or 50 crore in the pre-launch are bound to face trouble later. Do you know how?
If those who bought flats at a low rate in pre-launch offers put their flats on sale at a lower rate than what the builder is offering at a time when a builder is about to begin construction, new buyers would not show interest in higher-rate projects. No one will come forward to buy the flats from the developer. The builder cannot sell his flats unless all of them are completed. Even if the pre-launch projects are complete, there are some builders who are selling flats in the pre-launches. Due to this reason, some construction is half done, and not many sales are taking place.
HMDA conducts the auctions in phases. HMDA, which has already sold plots in Kokapet in two phases, is also selling plots in the third phase. However, builders who are selling in pre-launch now will advance their work by the third auction in Kokapet. It is sure that new builders will again announce pre-launch offers, which in turn will hit the regular sales of the previous builder. Because, in the third phase of the auction, the land buyers cannot rule out the opportunity to make a pre-launch offer, in that case, there will be a negative impact on regular sales. So, a builder who does a prelaunch now is bound to face trouble in regular sales after that. So, even if the prelaunch virus does well initially, the entire industry will be destroyed in the long run.
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