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The Telangana Real Estate Regulatory Authority (TGRERA) recently took action against three developers for failing to complete projects on time and violating provisions of the Real Estate (Regulation and Development) Act. The penalties include fines, directives to refund homebuyers with interest for unstarted projects, and orders to execute pending sale deeds for delayed possessions. These cases involved projects in Gopanpally, Ramachandrapuram, and Boduppal. The authority's steps highlight its focus on protecting consumers and enforcing strict compliance in Telangana's real estate sector.
The Telangana Real Estate Regulatory Authority (TGRERA) imposed penalties on three developers who failed to deliver projects within the agreed timelines and violated provisions under the Real Estate (Regulation and Development) Act. These actions aim to ensure consumer protection and accountability in the state's real estate sector. Advertisement
In one case, Sumit Kumar Soni and Ranjana Bansal from Gachibowli filed a complaint against Jayathri Infrastructures Pvt Ltd over the 'Sky Exotica' project at Gopanpally. They had paid INR 30 lakh but had neither received a refund nor an allotment, and construction had not started. TGRERA directed the developer to refund the full amount with 10.8% annual interest from the date of the MoU until realization within 90 days. Additionally, a fine of INR 18.3 lakh was imposed for marketing flats without registering the project, to be deposited in the TGRERA fund within 30 days.
In a separate complaint, Shiva Shankar Reddy raised issues against Sunrise Constructions of Ramachandrapuram regarding the 'Sunrise Abode' project. Despite assurances in October 2022, possession of his flat had not been handed over. He had invested nearly INR 55 lakh, including loan and registration charges, for a flat priced at INR 67.2 lakh. TGRERA directed the promoters to execute and register the sale deed for Flat No. 411 within 30 days, provided the buyer pays the balance amount. A penalty of INR 5 lakh was also imposed for violating disclosure norms.
The third case involved Anuparthi Sandhya Rani from Uppal, who complained against Krithika Infra Developers regarding the 'Sheshadri's Silver Oak' project at Boduppal in Medchal-Malkajgiri district. She had paid INR 54.2 lakh, but no construction work had started despite repeated assurances. The authority ordered the developer to refund the amount with 10.75% interest from November 2022 until repayment, within 30 days.
These actions demonstrate TGRERA's continuing efforts to enforce regulatory compliance and ensure that homebuyers receive their payments or possessions on time. The authority is actively monitoring projects and taking strict measures against developers who fail to meet required standards.
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