Lucknow, April 17 -- The Uttar Pradesh Real Estate Regulatory Authority has issued a public advisory cautioning homebuyers against misleading promotional schemes, such as "assured returns" and "guaranteed monthly rent before possession." The authority emphasized that such offers, often used by real estate promoters to attract buyers, lack legal validity unless explicitly incorporated into agreements compliant with RERA provisions.
According to UP RERA, several developers continue to lure buyers through aggressive marketing tactics that include subvention plans, pre-EMI payment schemes until possession, fixed rental income before project completion, buyback guarantees, lease assurance schemes, and promises of assured returns on investment....