Home buyers urged to be extra cautious with pre-launch offers

Hyderabad: With several real estate firms swindling lakhs of rupees in the name of pre-launch offers, senior advocate Krishnakanth Pothireddy stressed on being extra cautious while indulging in real estate transactions.

Senior advocate Krishnakanth Pothireddy has been arguing for the rights of tenants, homeowners, and small business owners who face unfair treatment in the complex web of property disputes. He was the one who brought the case of ‘Sahiti Infratec Ventures’ to the media.

A group of families fighting against the huge corporations that, in the name of pre-launch offers, swindled millions of rupees by promising world-class residential apartments at Ameenpur on 23 acres.

As many as 1,500 families invested huge amounts in the project, and when the delivery got delayed, the company and its management fled away with their money, and it was Krishnakanth who brought this scam to the notice of TSRERA, and with the effect of his dharna in June 2023, the State government immediately appointed a chairman to RERA in July 2023.

Then took up the case to the RERA, which has woken up with the dharna of the victims and took up the case for prosecution, which is in its final stages of hearing where the victims were hopeful that the project would be rehabilitated soon and justice will be served. He said that the buyers should go through the history of the firm before finalising the payments.