Hyderabad: TGRERA asks BhuvanTeza Infra to refund money with interest for misleading buyers
The company had launched its residential venture, Happy Homes-1, without obtaining mandatory approvals
By Sistla Dakshina Murthy
Hyderabad: The Telangana Real Estate Regulatory Authority (TG RERA) has slapped a fine of Rs 6.45 lakh on Bhuvan-Teza Infra Projects for illegally marketing and selling apartments in its unregistered residential project āHappy Homes-1ā at Shamirpet.
Project sold without RERA approval
Between 2020 and 2023, the builder sold units in the project without obtaining mandatory registration under Section 3 of the Real Estate (Regulation and Development) Act, TG RERA found.
Buyers file complaint
The action followed a complaint by Appam Kiran Kumar from Sumitranagar, Kukatpally, along with three other allottees. They alleged the builder promoted the project aggressively using brochures, site plans, and verbal promises of swift approvals and early possession.
False claims of approvals
Managing Director Chekka Venkata Subramanyam allegedly assured buyers that approvals from HMDA, TG RERA, and the revenue department were either in place or imminent.
Payments taken without proper documentation
The buyers registered land parcels under survey numbers 685 and 686 in their names as security, while development agreements were executed to consolidate undivided shares for the project. Payments were made via cheque, cash, and digital modes, often without formal receipts or registered documents.
No construction, only threats
Despite collecting payments, there was no development at the site. Buyers said repeated refund requests were met with evasive replies and threats.
Declared defaulter, development halted
TG RERA declared the builder a defaulter for wilful and continuous violations. It ordered immediate termination of all development activities, a ban on marketing, booking, or selling any part of the project and publication of the promoterās name and photograph on its website.
Refund with interest ordered
The builder has been directed to pay the Rs 6.45 lakh fine within 30 days and refund the principal amounts to complainants with 11% interest per annum from the date of payment, within 90 days. Failure to comply will attract further penal action under RERA provisions.
