Telangana Hyderabad - Six Real Estate Firms Served Notice for Flouting Norms
The telangana Real Estate Regulatory Authority (TGRERA) has issued notifications to six real estate enterprises for violating regulations, including pre-launch sales. One of the firms, Bharti Lake view Towers, allegedly defrauded 350 customers of Rs.60 crore. Others who received notices included Pragya Ecospring (Miyapur), Sri Siddi Vinayaka Property Developers in Chintalkunta (LB Nagar), North east Habitation (Kondapur), VR Promoters and Developers (Sangareddy), Invest Infra Project (Kukatpally Housing Board Colony), and Bharti Lake view Towers (Kompally). They have been requested to respond within fifteen days.
"We served notifications in response to public concerns, internet marketing, and pamphlet publicity. Only until they respond to the summons will the violations be proved," said Srinivasa Rao, member-2 of the TGRERA panel. He stated that breaches might vary from cheating to not registering with TGRERA, among other things. "Only after these real estate companies reply to us that we will get to know whether they at least have a sale deed or a physical site in place," stated Srinivasa Rao.
TSRERA stated in a news release that 210 complaints have been resolved in the 11 months since the authority's inception. So far, 8,270 projects have been registered under TSRERA, with 918 projects found to have breached RERA regulations, resulting in a delinquency charge of Rs.30.99 crore and a recovery of Rs.13.7 crore.