MSN Realty is a new builder but going really big in Kokapet and Raidurg, is that risky for buyers?

Been following the One by MSN project in Neopolis for some time and something keeps bothering me, maybe I’m overthinking. From what I understand this is their first residential project. And the first project itself is 5 towers, 55 floors each, around 650 plus flats. That’s not a small start by any means.

On top of that, last year they picked up a big land parcel in Raidurg in the government auction, something like 177 crore an acre, total well over a thousand crore. So within a short time they have committed a huge amount of money in land and construction both.

Now to be fair, this cuts both ways. Someone who can pay that much for land clearly has serious money behind them, and RERA rules now mean buyer money has to go into separate account for the project, so it’s not like old days. Price was also increased once this year from what I read, so seems like bookings are happening.

But my worry is simple. A builder with 10-20 years of delivered projects, you can go visit their old buildings, check the quality, talk to residents, see how they handled handover. With a first project you don’t have any of that. Possession is around 2030 as per listings. Thats a long time to trust someone with no track record, specially at this price per sqft. And if they’re also starting something big in Raidurg same time, will the focus get divided?

I’m someone who prefers waiting for OC usually, so I’m probably more cautious than most here. Still curious, how do people evaluate a new developer at this price point? Is strong money backing enough, or would you wait till their first project is delivered before buying?