Hyderabad: Krithika Infra asked to refund Rs 39.83L for illegally selling Sheshadri Silver Oak flats

Hyderabad: Telangana Real Estate Regulatory Authority (TGRERA) has directed Krithika Infra Developers to refund Rs 39.83 lakh each to two complainants, with 11% interest, for illegally selling flats in an unregistered housing project, Sheshadri’s Silver Oak, located in Boduppal, Medchal-Malkajgiri district.

The Authority also warned the developer of stringent action if further violations are reported.

Lured by Pre-launch offers without approvals

According to the complainants, Swapna Chikoti and Sampriti Chikoti, they were first approached by Krithika Infra agents after browsing housing.com. The agents urged them to avail a “limited-time” pre-launch offer, stating it would close in four to five days.

Pressured by repeated calls and assurances, the buyers visited the project site and office, where documents related to zoning and approvals were shown but not shared for the record.

Despite concerns, both buyers targeted as middle-class customers were persuaded to make payments after availing personal loans. A total of Rs 39.83 lakh each was paid within a month, with no registration of the flats completed even after a year.

No construction; Buyers harassed and intimidated

Over the following year, the buyers found no signs of construction at the site. Multiple attempts to reach the developer D Srikanth and his brother D. Shashikanth were either ignored or met with abusive language.

The complainants alleged they were intimidated and prevented from visiting the site, sometimes in the presence of bouncers. After media involvement, the developer promised to deliver the flats within a year.

But unwilling to fall for further delays, the buyers opted to cancel their bookings and seek a refund.

Cheque promises and repeated dishonour

Despite oral assurances from June 2023, Krithika Infra failed to refund the amount. Post-dated cheques were issued thrice on November 15, 2023, April 30, 2024, and August 5, 2024, but all were dishonoured due to insufficient funds.

A written bond promising repayment was even signed in the presence of Medipally Police. Yet, no refund was made. Burdened with high-interest personal loans, the buyers approached RERA for redress.

Blatant RERA violations confirmed

The RERA Authority, after due procedure, proceeded ex parte against the developer for failing to appear or submit any response. It concluded that Sheshadri’s Silver Oak fell well within the category of projects requiring mandatory registration under Sections 3 and 4 of the RERA Act, 2016.

The project, spread over 11,418 square meters with multiple flats, was marketed and sold without any registration. Notably, the same developer was penalised Rs 9.96 lakh earlier this year for similar violations in the same project. The Authority observed a pattern of deliberate non-compliance and consumer deception.

Full refund with interest ordered

Citing Section 18(1)(a) of the RERA Act and Rule 15 of the Telangana Rules, 2017, the Authority held the complainants eligible for full refunds with interest. Accordingly, it directed Krithika Infra to pay Rs 39.83 lakh each to the complainants, with 11% annual interest from the date of their agreement in November and December 2022, within 30 days.

Developer warned against further sales

The Authority also issued a stern warning to Krithika Infra Developers to immediately cease all marketing and sale activity related to the unregistered project. It cautioned that any further violations would invite coercive and punitive action under Sections 59, 60, and 61 of the Act.

Earlier on April 25, 2025, RERA had published a public notice warning potential buyers against dealing with the builder due to ongoing complaints and unresolved grievances.

Systemic pattern of consumer exploitation

The Authority noted that several similar complaints had been filed against Krithika Infra across multiple projects, revealing a systemic pattern of non-compliance, unauthorised fund collection, and unfulfilled promises. It called for vigilant monitoring and tough enforcement to protect the interests of vulnerable homebuyers.