HYDERABAD: Telangana Real Estate Regulatory Authority (RERA) has penalised Paradise Peak Pvt. Ltd. for violating the Real Estate (Regulation and Development) Act, 2016, in a case filed by advocate Macharla Santosh. The complainant alleged that the developer had sold 550 plots in a 50-acre project at Zaheerabad without the mandated RERA registration.
While he was reviewing legal documents for his clients, Santosh fund that the project lacked RERA registration, thereby exposing buyers to legal risks. He also cited a pending arbitration dispute between the developer and the landowner.
While the authority dismissed the complaint, ruling that the complainant was not an “aggrieved person” under the Act, it found the developer guilty of violations, including selling plots without registration and not having taken insurance, which is also mandatory.
RERA imposed a penalty of Rs 11,49,210 on the developer and directed that the project be registered within 15 days. Until such time, the developer has been barred from advertising, marketing or selling plots. Failure to comply will lead to additional penalties under the Act.
