Industry insiders confess that the absence of a strong RERA led to the emerging unauthorized realty projects throughout Hyderabad.
Also, it has given rise to a large, unhealthy crop of irresponsible operators who are seen launching low-cost projects without any approvals, including RERA. In some cases, construction companies are also selling these residential properties, in violation of rules.
A scan of the official RERA website unveils that many projects, marketed publicly on realty portals, have no official documentation including both apartment and villa projects coming up in areas like Kollur, Kukatpally, Narsingi and Ameenpur among others.
“Though they might not be A-listers and none of these projects are very small either. In a case, the builder has sold about 300 units without RERA approval,” said a real estate consultant claiming how barring some players disobey these regulations.
While the textbook says that any seller of the property must be certified by the RERA, it is ignored in Telangana, and the lack of RERA certification of agents is another cause for concern, add industry sources.
“This is unrestrained among little-known companies. They have dozens of people performing as marketing executives, but none have a RERA number. Worse is that they don’t even know that they must get one,” said another senior realtor.
The trend has also made worried even to big-ticket developers. “If this trend continues, we will soon see many more developers coming under the inspection of law enforcement agencies,” said the director of a firm.