Hyderabad: The Telangana Real Estate Regulatory Authority (RERA) has taken decisive action against two Hyderabad-based real estate firms—Devas Infra Ventures and Bhuvan Tej Infra Projects Private Limited—for failing to complete a housing project on time and for violating several regulatory norms.
Mercy Thanakachan, a resident of Secunderabad, had entered into an agreement on January 5, 2021, to purchase a house in the Happy Homes-2 project. She paid Rs 21.20 lakh upfront, with the understanding that the project would be completed and the house handed over within 36 months. However, construction never began.
Without her consent, her agreement was shifted to another project, Happy Homes-1. Despite repeated attempts to seek clarity, Devas Infra Ventures directed her to approach Bhuvan Tej Infra Projects. The latter demanded an additional Rs 6 lakh to proceed, which she paid, resulting in a new agreement that set the completion deadline for November 11, 2024. Yet, even after this, the project made little progress.
Frustrated by the lack of transparency and delays, Mercy Thanakachan filed a complaint with RERA. She requested that the project be completed within the promised timeline or that an equivalent house be registered in her name. If neither was possible, she sought a refund of her payments with interest.
After reviewing the case, RERA ordered Bhuvan Tej Infra Projects Private Limited to refund the amount paid by the complainant, along with 11 percent interest, within 45 days. The authority also imposed a penalty of Rs 6,45,750 for failing to register the project with RERA and prohibited any sale, promotion, or booking of houses in Happy Homes-1 until further notice.
Additionally, Devas Infra Ventures was fined Rs 1,08,800 for engaging in real estate business in violation of regulations. The company was instructed to reapply for real estate agent registration and to halt all property transactions until the registration is granted.
