Hyderabad:The Telangana Real Estate Regulatory Authority (TGRERA) has taken action against two developers for failing to meet delivery deadlines and not following required rules.
In one case, TGRERA ordered Krithika Infra Developers Pvt. Ltd to return `33.84 lakh, along with 11.05 per cent interest, to a buyer, Sri Katchala Nanaji. He had paid the amount in October 2021 for a flat in the ‘Sheshadri’s Silver Oak’ project in Beeramguda, Hyderabad. The developer promised to deliver the flat by March 2024 but missed the deadline. After multiple attempts by the buyer to get an update, he filed a complaint with TGRERA.
The developer claimed to have refunded the amount through cheques, but the buyer showed evidence that the cheques were dishonored. TGRERA found that the developer had violated the law by accepting payments before registering the project with RERA. As a result, the developer was ordered to refund the full amount, pay a penalty of `9.96 lakh, and register the project with RERA. The developer was also told not to sell or advertise the flats until the project is properly registered.
In the second case, D. Shruti and D. Shravya had paid `4 lakh in November 2020 to R Homes for a flat in Yamnampet, Ghatkesar. The developer promised to deliver the flat within two and a half years but failed to do so. When they asked for a refund, only `2 lakh was returned in May 2024. The developer claimed this amount was a full settlement, but TGRERA found that the developer had accepted money before registering the project with RERA in 2023, which is against the rules.
The real estate regulation body ordered the developer to return the remaining `2 lakh and pay a penalty of `8,30,111. The developer was given 30 days to refund the money and complete the RERA registration or face further penalties.
