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The Telangana Real Estate Regulatory Authority (TGRERA) has imposed a fine of INR 6.4 lakh on Bhuvanteza Infra Projects Pvt. Ltd. for multiple violations, including non-registration, diversion of customer funds, and delayed possession of flats. The authority has ordered refunds to buyers in three separate cases, along with 10.7% annual interest, to be paid within 30 days. Cases involved projects at Bommarasipet, Velimela, Dundigal, and Malkajgiri, where buyers had paid substantial amounts but did not receive the promised flats. These actions reinforce TGRERA's commitment to protecting homebuyers' rights.
The Telangana Real Estate Regulatory Authority (TGRERA) has recently imposed a fine of INR 6.4 lakh on Bhuvanteza Infra Projects Pvt. Ltd., directing the company to refund payments to buyers in three separate cases involving unregistered and delayed housing projects. The authority held the builder liable for multiple violations, including non-registration, diversion of customer funds, and failure to deliver possession, while stressing compliance with the Real Estate (Regulation and Development) Act, 2016. Advertisement
In the first case, Raja Rao Bongu of Shamirpet booked a flat in the 'Happy Homes Phase-2' project at Bommarasipet through Devas Infra Ventures Pvt. Ltd., which later became Bhuvanteza Infra Projects Pvt. Ltd. He paid INR 6 lakh as the booking amount in early 2021 and executed a sale agreement for the flat in July 2021, with possession promised within 36 months of approvals. By November 2021, he had paid the full consideration of INR 17.3 lakh. Later, he was informed that the project was cancelled and shifted to 'Happy Homes (1)' at Babaguda, leading him to pay an additional INR 3.7 lakh in March 2023. Despite a total payment of INR 21 lakh, registration never occurred. TGRERA ordered a full refund with 10.7% annual interest within 30 days and imposed additional penalties of INR 6.4 lakh on the company and INR 1 lakh on the intermediary for violating regulations.
The second case involved Durga Mahanti Vidyasagar of Alkapoor Township, who signed successive agreements for flats in 'Aura (Velimela)' and 'Tulasi Bhagyanagar (Dundigal)' between 2021 and 2022. He paid INR 26 lakh out of the total INR 27 lakh consideration. However, possession was not provided, and receipts were issued under a different company name, indicating misrepresentation. TGRERA directed a full refund of INR 26 lakh with 10.75% annual interest within 30 days, warning that failure to comply would attract penalties under Section 63 of the RERA Act.
In the third case, Rekha Rani Patange of Malkajgiri booked a flat in 'Happy Home-II' and paid INR 27.7 lakh in two installments. She received monthly rent compensation initially, which later stopped without notice. The project lacked valid permissions, and she was pressured to surrender her original agreement and accept a new one for a flat in 'Happy Homes', which never materialized. The company also registered undivided land shares instead of the promised flats and eventually abandoned the site. Attempts to reach the firm failed as the Banjara Hills office was locked. TGRERA directed a full refund of INR 27.7 lakh with 10.7% annual interest within 30 days.
These actions demonstrate TGRERA's commitment to safeguarding homebuyers and enforcing accountability among developers. By imposing fines and ordering refunds with interest, the authority reinforces the importance of adherence to legal obligations and ethical practices in the real estate sector.
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