Illegal Realty biz with GPAs…
- Abnormal trends in Hyderabad Realty
- Builders fool the owners of the land.
- Buyers and Landlord’s beware..
The real estate sector of Hyderabad, which was going smoothly until 2018, is gradually turning into an address for unruly trends. Some builders are illegally registering the plots without the knowledge of the landlords. They are so desperate that they are conspiring to send the landowners out of the project. Also, all the realty experts must teach these fraudulent builders a lesson. Otherwise, perverse trends will increase in the market, and the existence of the construction sector will be in jeopardy. What precautions should buyers take in this order?
If you look at some of the projects in Hyderabad, due to the conflicts between the land owners and builders, buyers who bought the plots and flats are facing problems. What some of the builders are doing is making an agreement with the landowners, and later, by flouting the written rules, they are selling plots and flats in the pre-launch. Don’t invest your time and money in such things. Let’s take a look at what precautions you should take while buying a plot or a flat for any project.
Did they announce a higher ratio?
In some cases, the owners of land behave hastily. To hand over the land to the builders for development, they also write a higher ratio for builders. The main reason for that could be a good middleman who introduced the respective builder to the landowner. But what if the builder initially begins to sell the flats pre-launch and invests the money in buying the land from the owner? Then what impression does the land owner have on the builder? If the builder doesn’t give a convincing response to the question posed on the same, the builder might hatch a plan to get the owner’s name removed from the legal aspects. Many similar incidents are coming to light in Hyderabad. So, landlords, beware.
Think about if the landlords are sent out of the project without their knowledge, instead of blindly making the development agreement according to GPAs. If such a situation arises from now on, include provisions in your agreement to have a solution for it. Some people are entering the real estate sector as developers with the malicious intention of earning crores of rupees.
They all pretend to be good at first and pay more advance money to impress you. After you have made an agreement, if you are pushed out of the project, you will have to face trouble. Hence, hand over your land for development to reputed builders in the market. Otherwise, the owner would run from pillar to post to the police, lawyers, and courts.
