Some developers don’t know where to build skyscrapers! Even if small piece of land is available, they are agreeing to the terms of the land owners who are coming up with unrealistic demands. Is the site suitable for building skyscrapers? Is there adequate infrastructure in the locality? Would people buy it if a skyscraper is built in the location? – without considering all these issues, some developers are even planning to build skyscrapers on internal roads as well.
Even if they don’t have money in their hands, they are announcing pre-launch schemes and trying to pool money from gullible buyers. A large number of developers are giving this amount to the land owners and using the remaining amount for their personal needs. Companies like Sahithi and Jaya Group have already been exposed with similar modus operandi. There are more such companies which are resorting to similar frauds, but are waiting to be exposed soon. One such company at HMT Swarnapuri Colony in Miyapur, is selling flats in pre-launch sales through agents, without their name getting exposed, as a precaution to avoid RERA’s radar. If they have shown this intelligence in construction of the project, they would not only impress their buyers, but also attract more. It is better for buyers to think wisely and not fall prey to pre-launches.
