The UDS and pre-launch projects, offered at a comparatively less price with the promise of high appreciation, appear to be very lucrative. But, the benefits will accrue to the customers only when the project takes off and completed on time. There were instances of such projects not taking off even two or three years after the pre-launch sales, putting the future of the customers of such projects in limbo. To avoid such awkward situation, the solution is to buy properties in soft launches.
To get more profit, the greedy people, which includes even the highly educated, tend to buy flats in pre-launch offers. Many of them sustained losses and find it difficult to come out of such mess. The builders who sold their projects in pre-launch events are not starting their projects and not answering their customers on when they are going to start the project.
The builders would not disclose facts like the location of the site in which zone or whether the said land is locked in any legal problems or the causes for local bodies not granting approvals. Even when the buyers confront with the builders, they hoodwink the customers somehow or the other. What is the solution to avoid such unwanted builders? The solution is to approach a reputed builder building projects with RERA approval in a good locality and buy the properties in soft launches. It would save the customers from all losses. The buyers would not have to worry if the builder fails to complete the project on time since the project has the RERA approval.
Lodging a complaint with the RERA would be sufficient, the RERA would take the builder to the task. The benefit of buying the project in soft launch is that the investment would be totally safe. But, higher dividends are hard to come by. Another benefit is timely completion of the project. The builder would be responsible for five years for any defects in the quality of construction. That is why, the prospective buyers should keep it in mind that it is always better to buy projects in soft launches.
There are many developers in the city who would sell their flats in soft launches. After the RERA comes into being, many builders sell their projects on 100 per cent payment terms too. For example, in SMR Vinay Iconia, the project coming up in Kondapur, the developer on one hand proceeding with construction of towers and on the other, selling flats on 100 per cent payment option. The buyers are evincing interest to buy the flats in this project as the SMR Vinay has reputation of handing over the flats on time.
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