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The Telangana Real Estate Regulatory Authority (TG RERA) has imposed a penalty of INR 27 lakh on Googee Properties Pvt. Ltd. for illegally marketing and selling plots in an unregistered project in Ibrahimpatnam, Rangareddy district. The authority's decision, which came after complaints from 12 homebuyers, also mandates that the developer refund the buyers' money with an annual interest rate of 10.8% with an immediate cease on all sales activities. This ruling serves as a strong warning to promoters who attempt to circumvent the law by selling plots under "pre-launch offers" without the required statutory approvals and registration.
In a recent order, the Telangana Real Estate Regulatory Authority (TG RERA) took strict action against Googee Properties Pvt. Ltd., fining the developer INR 27 lakh for violating the Real Estate (Regulation and Development) Act. The penalty was imposed for marketing and selling plots in a "satellite township" venture at Nomula village, Ibrahimpatnam, without obtaining the mandatory project registration or layout approvals. Advertisement
Acting on complaints from 12 allottees, TG RERA found that the developer had collected significant advances through "pre-launch offers" despite lacking the necessary clearances. The buyers had paid for residential plots of about 200 square yards, but more than two years later, the project site remained undeveloped and plots were not demarcated. The promotional material had falsely advertised the project as a 1,000-acre integrated township, when official records indicated only 334 acres, with the developer owning a mere 30 acres in a specific phase.
The Authority's order directs the firm to refund the amounts paid by the complainants with 10.8% annual interest and to pay both the penalty and refunds within 30 days. The developer is also required to immediately apply for project registration and refrain from any further sales or marketing activities until the registration is granted. The ruling emphasizes the authority's commitment to protecting homebuyers from fraudulent practices and ensuring compliance with the RERA Act.
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