RERA halts Jaya Diamond sales
Hyderabad:Several homebuyers have filed complaints against Jayathri Infrastructures India Pvt. Ltd, the developer of the Jaya Diamond project, alleging long delays and complete lack of communication on project progress. Despite making full payments and signing agreements, the project has seen minimal development since 2022.
With no clear updates from the builder, affected buyers formed the Jaya Diamonds Welfare Association and approached the Telangana Real Estate Regulatory Authority (RERA) seeking intervention. Acting on the complaint, RERA issued interim orders restraining the developer from selling or registering any more units in the project.
While the company blamed financial constraints for the delay, buyers alleged that Jayathri Infrastructures not provided any transparency on how the collected funds were utilised. They also said the developer has made no progress in bringing in an investor or joint venture partner to resume work.
RERA warned that continued violations could lead to cancellation of the project’s registration. Meanwhile, buyers remain hopeful that the regulatory action will lead to long-overdue progress and delivery of their homes.
