Hyderabad: Most of the real estate companies that cheated people have used social media apps including, social networking sites according to the complaints received to Telangana Real Estate Regulatory Authority (TGRERA).
Buildox, Bharti Lake View Towers (Kompally) were the two companies against which complaints were lodged with TGRERA. The complainants submitted transaction IDs of online payments and accused the firms of cheating them.
Most of the complainants told officials that they first saw the advertisement on social networking sites. When they clicked the links, they were directed to a WhatsApp personal window where a person interacted with them as a representative from the real estate company.
"Only a brochure or a few pictures or video of a real estate project are posted as a thumbnail for the link that is circulated on social media platforms," said a complainant.
Over the text on WhatsApp or phone, details of the project including cost, date of completion, amenities are shared and more artistic impressions of the property are sent to lure the target.
Those interested in making a purchase are asked to visit the office. Once there, a person there who introduces himself either as the builder or business partner accepts payment.
“Some people think, as the transaction is being done online, the company can be trusted. Most of these companies who intend to cheat never advertise in newspapers, they always use social media so that it can be deleted and modified later,” said Srinivasa Rao, member-2 of the TGRERA tribunal.
While Buildox has promised to build and sell flats in Survey No. 80 , Hafeezpet, a disputed site, the Bharti Lake View Towers collected money promising people flats. Both of them allegedly cheated people with pre-launch offers.
In addition to these two companies, TGRERA has written to the state government seeking action against five other companies after they did not reply to their notices:
Pragya Ecospring (Miyapur), Sri Siddi Vinayaka Property Developers in Chintalkunta (LB Nagar), North East Habitation (Kondapur), VR Promoters and Developers (Sangareddy) and Invest Infra Project (Kukatpally Housing Board Colony).
“The remaining companies have not replied to our notices, we don’t even know whether these companies at least have the land to build the apartment. We have written the same to the government seeking permission to initiate action,” said an official from TGRERA.
