Has the Revanth Government Failed to Curb Pre-Launch Sales?

It has come to light that a company named Myron allegedly collected around ₹200 crore through pre-launch sales in Bachupally. Not just this, several other firms are reportedly selling flats under pre-launch schemes in areas such as Miyapur, Bachupally, Pragathi Nagar, and Gandimaisamma, promising high-rise projects.

In Pragathi Nagar, one developer is said to have sold flats on a one-time payment basis on a large scale as early as three years ago. What has happened to that project remains unclear, even to officials of local authorities. From Kokapet, Kollur, Tellapur, Velimela to Patancheru, pre-launch sales appear rampant, with the Revanth government seemingly unable to curb the practice. Since CM Revanth Reddy himself oversees the municipal administration, affected buyers believe that the government has failed to prevent these pre-launch scams.

Adding to the concern, TG RERA is also accused of turning a blind eye, emboldening pre-launch builders. With unchecked promises and unrealistic assurances, these developers are luring buyers by offering “dream homes on paper.” There is an urgent need for Chief Minister Revanth Reddy to intervene decisively and put an end to such pre-launch frauds, victims and consumer groups assert.