Home buyers advised to stay cautious with pre-launch deals

Hyderabad: Over the past few years, several real estate companies have been accused of cheating people out of their hard-earned money through pre-launch offers. Senior advocate Krishnakanth Pothireddy has advised people to be extremely cautious while engaging in real estate transactions.

Krishnakanth Pothireddy has been actively fighting for the rights of tenants, homeowners, and small business owners who often face unfair treatment in property disputes. He recently brought attention to the case of fraud involving “Sahiti Infratec Ventures,” a real estate company accused of deceiving its customers.

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In this case, a group of families invested in a pre-launch project by Sahiti Infratec Ventures, which promised to build world-class residential apartments in Ameenpur on a 23-acre plot. Around 1,500 families poured their savings into the project, but the company failed to deliver on its promises. When delays occurred, the company’s management allegedly fled, leaving the investors with no recourse.

Krishnakanth brought this fraud to the attention of the Telangana State Real Estate Regulatory Authority (TSRERA). His efforts included organizing a dharna (protest) in June 2023. As a result of his actions, the State government appointed a chairman to TSRERA in July 2023, fast-tracking the resolution of such cases.

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The victims’ case was taken up by TSRERA, which launched a prosecution against the company. The legal proceedings are now in their final stages, and the families are hopeful that the project will be rehabilitated and justice will be served.

Krishnakanth has urged potential buyers to thoroughly research the history and credibility of real estate firms before making any payments to avoid falling victim to such scams.

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