The Telangana Real Estate Regulatory Authority (TGRERA) has imposed penalties on three developers for their failure to deliver projects within the stipulated time frame and for breaching the provisions of the Real Estate (Regulation and Development) Act. The orders were issued on September 29.
In the first instance, Sumit Kumar Soni and Ranjana Bansal from Gachibowli lodged a complaint against Jayathri Infrastructures Pvt Ltd regarding the ‘Sky Exotica’ project located in Gopanpally. The complainants stated that they had paid Rs 30 lakh but had neither received a refund nor an allotment, and construction had not commenced.
The authority instructed the promoter to refund the entire amount along with 10.8% annual interest from the date of the Memorandum of Understanding (MoU) until the amount is realized, within a period of 90 days. Additionally, TGRERA imposed a penalty of Rs 18.3 lakh under Section 59 of the Act for marketing flats without the necessary project registration.
This amount is required to be deposited into the TGRERA fund within 30 days, as stated. In another case, a complainant named Shiva Shankar Reddy alleged that Sunrise Constructions of Ramachandrapuram failed to deliver possession of a flat in the ‘Sunrise Abode’ project, despite assurances made in October 2022. He reported that he had spent nearly Rs 55 lakh, which included loan and registration fees, on a flat that was priced at Rs 67.2 lakh.
TGRERA directed the promoters to execute and register the sale deed for Flat No. 411 within 30 days, contingent upon the buyer’s payment of the remaining amount. A penalty of Rs 5 lakh was imposed under Section 60 of the Act for breaching disclosure norms as outlined in Section 4(2)(l)(D).
In the third case, Anuparthi Sandhya Rani from Uppal filed a complaint against Krithika Infra Developers concerning the ‘Sheshadri’s Silver Oak’ project situated in Boduppal, within the Medchal–Malkajgiri district. She claimed to have paid Rs 54.2 lakh, yet no construction work had commenced despite repeated assurances. The authority mandated the promoter to refund the amount with 10.75% interest from November 5, 2022, until repayment, within a timeframe of 30 days.
