2 weeks ago

Telangana RERA Fines Four Real Estate Projects for Violations

Telangana RERA Fines Four Real Estate Projects for Violations
TG-RERA acts tough, slaps heavy penalty on rogue developers in city · thehansindia.com

There is a special rule book for people who build and sell homes in Telangana, called RERA.

This rule book says builders must get a special permit before they can advertise or sell homes, and they cannot ask buyers for more than a small part of the money before official papers are signed.

Recently, some builders in Hyderabad did not follow these rules, so the Telangana Real Estate Regulatory Authority made them pay fines.

One builder, AV Infracon, had to pay fines for two of its projects because it sold homes without the permit.

Another builder, Adhuri Infra, asked buyers for too much money before the sale papers were signed.

A third builder, SVM Aditya Homes, was fined the biggest amount for selling homes without the permit and without city approvals.

Altogether, four projects got into trouble for breaking the rules.

The regulator says this is a warning to all builders: get the permit first and only collect small amounts until the papers are ready.

Key facts

Regulator
Telangana Real Estate Regulatory Authority (TSRERA)
Location
Hyderabad, Telangana
Projects penalised
4 (AV East Residency, AV West Heights, Adhuri Infra, Tech Homes)
Fine - AV Infracon (East Residency)
Rs 2,83,140
Fine - AV Infracon (West Heights)
Rs 14,84,184
Fine - Adhuri Infra
Rs 6,77,966
Fine - SVM Aditya Homes (Tech Homes)
Rs 43,16,480
Maximum collectible before sale agreement
10 per cent of total cost

Sources

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