We are all Bollywood fans, and Bollywood plays a very important role in our lives. For instance, movies like Bunty and Babli and Ladies vs Ricky Bahl show how innocent buyers can easily be scammed through clever yet fraudulent schemes.
With the rapid boost in the real estate industry, especially in markets like flats in Noida and property in Greater Noida, there has also been a noticeable rise in real estate scams. Many buyers looking to invest in 2 BHK apartments in Noida or other residential projects have unfortunately become victims of such fraudulent practices after investing their hard-earned money.
Here are a few common real estate scams that every buyer should be careful about:
TITLE SCAM
There have been several scams related to property titles in the real estate industry. In such cases, scammers duplicate title deeds of vacant projects and sell them to innocent buyers, particularly those searching for property in Greater Noida or newly launched flats in Noida. By the time the fraud is detected, the scammer has already disappeared with the invested money.
Hence, buyers need to be extremely careful and vigilant. They must conduct thorough research about the property, especially when purchasing 2 BHK apartments in Noida, as well as verify the credibility of the seller.
FAKE PROMISES
With the growth of the real estate sector, competition among developers offering flats in Noida and nearby regions has increased. To attract buyers, some builders make fake promises related to high returns or assured profits. In one such instance in Gurgaon, a builder promised a 12% return on the invested amount until possession, but later the issued cheques bounced.
Therefore, buyers should not get attracted by such advertisements, whether they are investing in property in Greater Noida or residential projects in Noida.
PROJECT DELAY
Project delay is one of the most common scams in the real estate industry. Builders often collect money from buyers booking 2 BHK apartments in Noida or other residential units and then delay construction to divert funds into other projects. This misuse of funds leads to delays across multiple developments.
However, with the implementation of the RERA Act, buyers can now file complaints against such delays, and the Regulatory Authority is bound to take action.
DEVIATION FROM ORIGINAL PROJECTS
In many cases, buyers receive a final project that is completely different from what was originally approved. Developers compromise on amenities, open spaces, parking facilities, and overall quality—an issue commonly seen in unverified flats in Noida and surrounding areas.
Here again, the RERA Act acts as a protective shield for buyers against such malpractices.
While investors are becoming more aware of scams in the real estate industry, fraudsters continue to find new ways to deceive buyers. Therefore, it is the responsibility of every buyer to carefully research and verify what they are purchasing, whether it is 2 BHK apartments in Noida, luxury flats, or property in Greater Noida.
