TG RERA Slaps Stricter Penalties on Developers for Regulatory Violations
The authority has imposed nearly Rs.97 lakh in fines with strict deadlines for project completion, registration, defect remediation.
Overview
- TG RERA fined Bhuvanteza Infra Projects Rs.76.4 lakh for using a fake RERA number to market flats without approvals and ordered a refund with 10.8% interest.
- Suvarnabhoomi Infra Developers and Maha Infra were slapped with a Rs.5.97 lakh penalty and must finish the Suvarna Sampada-2 layout and hand over plots within 60 days after six years of delay.
- Edifice Projects received a Rs.15.29 lakh fine for non-registration of its La Bouquet Edifice project and must pay within 30 days, register the scheme and fix construction defects in five villas.
- All three rulings were issued ex parte after the builders failed to appear before the regulator, underscoring widespread unapproved sales, quality lapses and prolonged delivery delays.
- TG RERA chairman N Satyanarayana urged homebuyers to verify project registration on the RERA website and scrutinize sale agreements before making payments.