The Confederation of Real Estate Developers Association of India (Credai) Hyderabad has initiated a campaign to caution customers purchasing undivided share of land.
Although the cost-benefit of the undivided share of land (UdSL) purchase may seem irresistible, it comes with high risks and financial liabilities, said a Credai Hyderabad press release. A RERA-approved purchase of apartment or commercial space is the best and safe way, it said.
Credai Hyderabad is aiming to create awareness among home buyers to purchase the property through credible developers, added the release.
Speaking about the initiative, P Ramakrishna Rao, President, Credai Hyderabad, said, “Buyers should be alert and ensure they purchase the TSRERA-registered projects. This will safeguard the hard-earned finances of the home buyers. They should avoid getting into a UdSL unless they have done thorough due diligence and are sure of the safety of their investment.”
V Rajashekar Reddy, General Secretary of Credai Hyderabad, said, “Hyderabad is primarily an end-user market. The majority of buyers are first-time buyers with fixed resources and little knowledge of the process involved. In this situation, the buyer must evaluate the builder profile, experience, and track-record for project delivery before selecting the property.”