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Hyderabad: absence of a strong Rare Industry insiders confess that there is a flood of unauthorized realty projects across the city.
It is also said to have given rise to a large, unhealthy crop of fly-by-night operators, who are seen launching affordable projects without any approvals, including RERA. In some cases, construction companies are also selling these houses in violation of norms.
A scan of the official RERA website reveals that many projects being publicly marketed on realty portals have no official records. And these include both apartment and villa projects coming up in areas like Kollur, Kukatpally. Aminpur And Narsingi among others.
“Though they may not be A-listers, none of these are very small projects. In one case, the builder has sold over 300 units without RERA approval,” claimed a real estate consultant on how some players have turned a blind eye to these rules.
Industry sources said the lack of RERA certification of agents is another cause for concern. While the textbook says that anyone selling a property must be certified by the Real Estate Regulatory Authority, this is ignored Telangana,
Another senior realtor said, “This is most prevalent in little-known firms. They have dozens of people working as marketing executives, but no one has a RERA number. Worse, they don’t even know that They should get one.”
The trend has worried big-ticket developers as well. “If this continues, we will soon see many more developers coming under the scanner of law enforcement agencies,” said a director of a firm.
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