Hyderabad: TGRERA fines Bhuvan Teja Infrastructure Rs 14.91L for missing flats handover deadline

Hyderabad: Telangana State Real Estate Regulatory Authority (TGRERA) has imposed a penalty of Rs 14.91 lakh on Bhuvan Teja Infrastructure LLP for failing to hand over residential flats on time, as promised in buyer agreements.

The authority also directed the builder to refund the invested amounts to affected buyers along with 11 percent interest.

RERA acts on buyer complaints

The penalty follows a series of complaints filed by 68 buyers who had entered into agreements with the developer for flats in the “Aara” apartment project, located in Velimela village, Ramachandrapuram Mandal, Sangareddy district.

Only 20 percent flats completed

Despite a contractual commitment to deliver the flats by December 2023, the company had completed only 20 percent of the construction as of June 19, 2024. Complainants alleged that the builder, operating from Malaysian Township in Kukatpally, ignored repeated follow-ups.

Buyers bear double burden

Buyers reported financial distress from having to pay rent for their current accommodations while also servicing home loans for the undelivered flats. Though the builder had assured rent compensation from January 2024 until possession, no such payments were made.

Following a detailed inquiry, RERA ordered the company and its representatives—Venkata Subrahmanyam, Bhagyalakshmi, and K. Balaji—to pay back the invested amounts with interest calculated from the date of the agreement to the repayment date.

In addition, RERA instructed the company to apply for official project registration immediately. Until such registration is granted, the firm has been prohibited from selling any units under the project.