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2 clusters · 2 sources · 9 days · First seen 26 days ago · Last updated 18 days ago

Real estate regulatory enforcement in Telangana

Overview

The Telangana Real Estate Regulatory Authority (TG RERA) has taken enforcement actions against developers in Hyderabad for regulatory violations and project delays.

TG RERA restrained DR Estate Construction from marketing or selling units in the Abhi’s Aloha villa project after determining the project was being sold without mandatory registration. The authority ordered a refund of ₹79 lakh to a homebuyer with 10.70% interest and imposed a ₹1.03 crore penalty.

Additionally, the authority directed Vasavi Realtor LLP to pay 10.70% annual interest to homebuyers following delays in handing over possession of flats in the Vasavi Lake City East project. This ruling follows over 50 complaints regarding the development, with the authority ordering immediate completion.

Entities

KG Foundations (P) Ltd · DR Estate Construction Pvt. Ltd. · Tamil Nadu Government · Tamil Nadu Real Estate Regulatory Authority · Vasavi Realtor LLP

Timeline

18 days ago

[BUSINESS] 2 sources
TG RERA penalizes developers for registration violations and delays
TG RERA has penalized DR Estate Construction for selling unregistered villas and ordered Vasavi Realtor LLP to pay interest to homebuyers following project delays in Hyderabad.
26 days ago

[BUSINESS] 3 sources
Tamil Nadu implements online property registration and enforces RERA compliance
Tamil Nadu is mandating online registration for first-time property sales to increase transparency, while TNRERA has fined KG Foundations 10 lakh rupees for selling unregistered apartments.

Sources

deccanchronicle.com · newsmeter.in