Will RERA impose any penalties?
Team 4, a construction company that does not have much experience in the construction of skyscrapers, has announced a new project, and its performance is very strange. First, they buy land somewhere, sell the flats in the pre-launch, and then quickly get RERA permission and start the project. The surprising thing is that this company has sold flats in pre-launches, but earlier, the TS RERA authority was not very concerned about the same. Hence, with the same confidence, the company launched another prelaunch project located next to Manikonda Gutta. The same story was repeated there. Recently, the third project was started in Miyapur. Initially, it sold in the pre-launch phase; like the Nyla project, they repeated their modus operandi (the pre-launch game). However, this time the government has appointed the chairman of TS RERA. And, this time, we will have to wait and see if Team 4’s pre-launch will go as planned or not. If they do the same, it is to be seen if RERA will impose any penalty on them.
Because of the pre-launch project started by Team 4 Life Spaces in Miyapur, other projects such as Vertex Virat, RV Sai Vanamali, Candeur Party, Candeur Twins, and Siya Constructions, which acquired RERA permission, are suffering. If any company sells flats in pre-launch like this, the local organisations must take strict action. Otherwise, don’t forget that this thread will continue.
