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 Newsmeter Network
Hyderabad: Telangana Real Estate Regulatory Authority (TGRERA) has directed BhuvanTeza Infra Projects Pvt. Ltd. to refund money with interest after it was found guilty of violating real estate norms and misleading buyers.
Project launched without approvals
The company had launched its residential venture, Happy Homes-1, without obtaining mandatory approvals or registering the project under RERA. Despite this, it actively promoted the venture between 2020 and 2023, assuring buyers that all legal permissions were secured.
No construction, only false promises
Based on the developerās assurances, several buyers invested substantial amounts in the project. However, the company neither initiated construction nor obtained necessary permissions even after collecting money.
Intimidation alleged, complaints filed
When buyers sought refunds or updates on the project status, BhuvanTeza Infra Projects allegedly ignored their appeals and, in some cases, tried to intimidate them. Multiple aggrieved buyers filed complaints with TGRERA.
TGRERA orders a full refund with interest
After examining evidence submitted by buyers, TGRERA found the developer in clear violation of the Real Estate (Regulation and Development) Act, 2016. Declaring BhuvanTeza Infra Projects as a defaulter, the authority ordered the company to refund the entire money collected along with applicable interest.
Further promotions barred
Additionally, TGRERA barred the company from advertising or promoting Happy Homes-1 until it obtains all mandatory approvals and complies fully with legal requirements.
