Realty employees could land in prison for pre-launch sales!

Sale of properties under pre-launch schemes is prohibited
Those who act carelessly, could land in trouble!
Pre-launch sales are not part of the job
Sahithi Group employees named in FIR

Are you working as a sales executive in any real estate company? Is your company selling plots or flats in pre-launch schemes? Are you selling them to reach targets and hoping for a commission? Are you working hard to convince customers to buy property under pre-launch scheme? But, wait a minute. Remember that if your company fails to start the said project or the government does not approve it, you will have to run around the police stations along with the company management. Customer relation managers and sales executives who sold flats in Sahithi Group projects have also been included in the FIR filed by the police in connection with the case. The police filed the FIR against the company MD and other directors.

From the Sahithi Group’s pre-launch scam case, it is now clear to everyone that employees working in the respective companies too can be named as the accused in the pre-launch sale scams. Knowingly or unknowingly, employees are getting involved in such scams and they will be in as much trouble as their company management.

The police have already arrested Sahithi Group managing director Boodati Lakshminarayana, who duped thousands of people to the tune of Rs 900 crores in the name of pre-launch offers. Before obtaining any permissions from the relevant authorities, he advertised that he was building high-rise apartments of 38 floors under Sahithi Shravani Elite on a 23-acre land in Ameenpur, and he attracted many people by offering flats at just Rs 2,000 to Rs 3,000 per sq.ft under pre-launch offer. Thus, he collected a total Rs 900 crore from 2,500 people including RS 539 crore from 1,700 people.

In this process of pre-launch sales, many employees also became a part of the pre-launch scam without them realising it. As part of their profession, they attracted many customers and made them buy flats under pre-launch sales. They reportedly earned around Rs 70 crores in the form of commissions. However, as the Sahithi Group company did not deliver any flats as per schedule, all the victims approached the Hyderabad CCS police. They registered a case and started investigation. Later in this case, Sahithi Group managing director Boodati Lakshminarayana along with company directors and some employees were included as the accused in this case. While A1 to A9 belong are directly involved in the company managment and were FIR are main accused or close aides, A10 to A21 are the employees who sold the plots to the customers. Thus, it is now clear that even if they are unwillingly became part of pre-launch scams. Under these circumstances, employees should not only be careful about selling the plots and flats, but also should abstain from getting involved in such pre-launch scandals.