1 day ago
Telangana RERA Orders EVK Projects to Refund Homebuyer
A homebuyer paid Rs 9.36 lakh for a flat in a project called EVK Avasa.
The buyer said construction had not started as promised.
The developer also did not show documents proving that the necessary approvals had been obtained.
Telangana Real Estate Regulatory Authority asked the developer to return the money.
The refund must include 10.70% yearly interest.
The developer must make the payment within 30 days of the order.
The authority said the developer did not respond to repeated notices.
It also ordered an investigation into whether the project was sold without being registered.
Telangana Real Estate Regulatory Authority ordered EVK Projects to refund Rs 9.36 lakh to a homebuyer.
The refund must include 10.70% annual interest from the payment date until repayment.
The buyer had agreed in November 2021 to purchase a 1,170-square-foot two-bedroom flat at EVK Avasa in Kollur.
The authority found that EVK Projects did not establish that construction had started or that required approvals were obtained.
The authority also ordered an investigation into whether the unregistered project was advertised, marketed, booked or sold without prior registration.
- Who
- Telangana Real Estate Regulatory Authority, EVK Projects and homebuyer N. Sneha.
- What
- The authority ordered EVK Projects to refund Rs 9.36 lakh with 10.70% annual interest and directed an investigation into the project.
- Where
- EVK Avasa project in Kollur, Telangana.
- When
- N. Sneha entered the agreement in November 2021; the refund is due within 30 days of the order.
- Why
- EVK Projects failed to establish that construction had commenced, provide required approval documents or respond to repeated notices; the project was also not registered with the authority.
Key facts
- Refund amount
- Rs 9.36 lakh
- Interest rate
- 10.70% per year from the payment date until refund
- Payment deadline
- Within 30 days of the order
- Project
- EVK Avasa
- Flat details
- 1,170-square-foot two-bedroom flat
- Original agreement
- November 2021, for a total sale consideration of Rs 37.44 lakh
- Regulatory action
- Investigation into possible advertising, marketing, booking or sale without prior project registration
Sources
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