Hyderabad: The Telangana Real Estate Regulatory Authority (TGRERA) has taken action against two developers for failing to meet delivery deadlines and not adhering to required regulations.
In the first case, TGRERA ordered Krithika Infra Developers Pvt. Ltd. to refund Rs 33.84 lakh, along with 11.05% interest, to buyer Sri Katchala Nanaji.
Nanaji had paid this amount in October 2021 for a flat in the ‘Sheshadri’s Silver Oak’ project in Beeramguda, Hyderabad, with a promised delivery date of March 2024.
However, the developer missed this deadline. After multiple attempts to get an update, Nanaji filed a complaint with TGRERA.
The developer claimed to have refunded the amount via cheques, but Nanaji provided evidence that the cheques were dishonoured.
TGRERA found that the developer had violated the law by accepting payments before registering the project with RERA.
As a result, the authority ordered a full refund, imposed a penalty of Rs 9.96 lakh, and mandated that the developer register the project with RERA.
Additionally, the developer was prohibited from selling or advertising the flats until proper registration was completed.
In Ghatkesar
In the second case, buyers D Shruti and D Shravya had paid Rs 4 lakh in November 2020 to R Homes for a flat in Yamnampet, Ghatkesar.
The developer promised delivery within two and a half years but failed to do so. When they requested a refund, only Rs 2 lakh was returned in May 2024.
The developer claimed this amount was a full settlement; however, TGRERA found that R Homes had accepted money before registering the project with RERA in 2023, which is against regulations.
TGRERA ordered the developer to return the remaining Rs 2 lakh and pay a penalty of Rs 8,30,111.
The developer was given 30 days to refund the money and complete RERA registration or face further penalties.
