Certain channel partners in Hyderabad’s real estate market are allegedly indulging in illegal practices by selling flats without obtaining authorization from developers. By downloading project details from company websites or other online sources, these intermediaries are promoting projects under the guise of “pre-launch” sales and collecting cheques from buyers in the name of Expression of Interest (EOI).
The issue has come into focus after several channel partners began aggressively marketing a proposed project by Prestige Estates in Kollur. Even before any official launch, RERA registration, or public announcement by the developer, videos and promotional content are being circulated widely on social media platforms.
These agents are claiming that the project, referred to as “Prestige Grove,” will span 28 acres with 10 towers of 52 floors each, and are quoting prices as low as ₹7,299 per square feet, promising high future appreciation. However, there is no official confirmation of these details from the developer.
Real estate experts warn that EOI payments offer no legal protection to buyers, especially when projects are not registered. Despite this, pre-launch collections continue unchecked, raising serious questions about the role and response of Telangana RERA.
Homebuyers are urged to verify approvals and registrations before making any financial commitments.