TGRERA fines Bhuvanteza Infra Rs 6.4L; directs to refund money to buyers for delayed projects
The authority also directed the builder to refund the entire amount paid by buyers, along with interest ranging from 10.7% to 10.75% per annum
By - Newsmeter Network
Hyderabad: Telangana Real Estate Regulatory Authority (TGRERA) has fined Bhuvanteza Infra Projects Rs 6.4 lakh for violating multiple provisions of the Real Estate (Regulation and Development) Act, 2016.
The authority also directed the builder to refund the entire amount paid by buyers, along with interest ranging from 10.7% to 10.75% per annum, in three separate cases related to unregistered and delayed housing projects.
Case 1: Buyer paid Rs 21 Lakh for Unregistered Project
In the first case, Raja Rao Bongu from Shamirpet lodged a complaint stating that in March–April 2021, he was approached by representatives of Devas Infra Ventures Pvt. Ltd., which was later renamed Bhuvanteza Infra Projects Pvt. Ltd., to book a flat in ‘Happy Homes Phase-2’ at Bommarasipet.
He paid Rs 6 lakh as a booking amount. He later entered into a sale agreement on July 22, 2021, signed by company director Chakka Subramanyam, assuring possession within 36 months of obtaining necessary permissions.
By November 2021, Raja Rao had paid Rs 17.3 lakh, the full sale consideration, only to be told that the project was cancelled and shifted to another site — ‘Happy Homes (1)’ at Babaguda. In March 2023, he paid another Rs 3.7 lakh for the new project, taking his total payment to Rs 21 lakh. Despite this, the flat was never registered in his name.
TGRERA directed the builder to refund the full amount with 10.7% annual interest within 30 days.
Case 2: Buyer paid Rs 26 Lakh, got neither flat nor compensation
In the second complaint, Durga Mahanti Vidyasagar of Alkapoor Township said he had entered into agreements with Bhuvanteza Infrastructures LLP for flats in two separate projects — ‘Aura’ (Velimela) and ‘Tulasi Bhagyanagar’ (Dundigal) — between 2021 and 2022.
He paid Rs 26 lakh out of the Rs 27 lakh total consideration, but the builder failed to hand over the flats or pay any compensation.
Finding clear evidence of breach of contract and non-delivery, the Authority ordered a refund of ₹26 lakh with 10.75% annual interest within 30 days.
Case 3: Project lacked permissions, buyer pressured to upgrade
In the third case, Rekha Rani Patange of Malkajgiri stated that she had booked a flat in ‘Happy Home-II’ and paid Rs 27.7 lakh in two instalments. The company initially paid her monthly rent compensation of Rs 15,400 for eight months as agreed, but abruptly stopped payments without notice.
She later found that the project did not have valid construction permissions, and the builder allegedly pressured her to either purchase a costlier duplex or shift to another project.
TGRERA, terming this conduct as unethical and misleading, ordered a refund of Rs 27.7 lakh with 10.7% annual interest within 30 days.
TGRERA’s findings and warning
The Authority observed that Bhuvanteza Infra Projects Pvt. Ltd. had violated the RERA Act by failing to register projects, diverting customer funds, and not delivering possession within the promised timeframes.
Calling the violations “serious in nature,” TGRERA warned that non-compliance with refund orders would invite further penal action. The builder has been directed to comply with all three refund orders within the stipulated period.
