Only a loss in the name of pre launch offers
More than Rs. 10,000 crore frauds in Hyd
No matter how many reforms are brought about by organisations like RERA for transparency in the real estate sector, fraud seems to never end. They are stealing the hard work of common people in the name of pre-launch offers claiming to get houses at a low price. Buyers are told not to go for pre-launch offers. In areas where there is no basic infrastructure like roads and electricity, they promote real projects.
They are charging crores of rupees by making an agreement with the land owners and without taking any permission from the government departments, announcing that if they buy it in the pre-launch, they will give it a low price. They are paying that money to the landlord and then trying to get permission. If the permissions are not received and a dispute arises with the landowner, the project is stopped, and those who booked in the pre-launch are left on the roads without any refund. Many companies have already taken up pre-launch projects and looted many people. Nanakranguda, Financial District, Kollur, Narsingi, Nizampet, LB Nagar, Narsingi, Puppalaguda, Telapur, Sameerpet, Adibatla, etc., among many others, in which pre-launches are going on in full swing in Hyderabad. Industry experts estimate that there will be at least 100 such ventures, and the value of real estate frauds within the three commissionerates of the city will be around Rs. 10,000 crores. Many people do not pay attention to the fact that they should check the antecedents of the respective builder and company before buying the property. It is especially better not to go for projects without RERA approval.
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