Hyderabad: The Telangana Real Estate Regulatory Authority (TGRERA) has taken action against Bhuvanteza Infrastructures LLP for delaying residential project Aura Velimala and failing to register it under RERA rules.
The authority has ordered the builder to refund the money collected from homebuyers and also imposed penalties for not following legal procedures.
Several buyers filed complaints with RERA, stating that the builder had promised to hand over their flats by December 2023 but by the middle of 2024 only about 20% of the work was completed. This delay made many buyers struggling financially as they had to pay both rent and home loan EMIs while still waiting for their homes.
One of the main violations was that the builder did not register the project with the authority, even though it was legally required under Section 3 of the Real Estate (Regulation and Development) Act, 2016. RERA found that the builder marketed and sold flats without registration which is against the law. Buyers also alleged that the money collected from them may have been used for other projects, which further delayed construction.
After reviewing the case, RERA ordered the builder to refund the money collected from the buyers along with interest and also imposed a penalty. The authority also noted that the builder had a history of similar violations in other projects which could put more buyers at risk.
