Telangana RERA slaps Rs 3.69 lakh fine on four realtors

Says the real estate agents engaged in forging signatures and receipts of complainant company Viana Homes Pvt Ltd, Gachibowli

Hyderabad: The Telangana State Real Estate Regulatory Authority (TG RERA) has imposed a fine of Rs 3.69 lakh on four realtors holding that they were involved in fraudulent activities.

One of the four respondents, Sikha Balaraju of Vijayawada had approached complainant, Anji Reddy, managing director of Viana Homes Pvt Ltd, Gachibowli and proposed that he had a substantial client base interested in purchasing commercial space in Poojitha Tech Park, a commercial complex, measuring 2.10 acres (10,890 sq yards) located in Kokapet village in Gandipet mandal of Ranga Reddy district, and expressed his intention to mediate prospective transactions.

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Despite this, the complainant’s company Viana Homes discussed the terms of the agreement, but Sikha Balaraju never finalised it. Thus, no express agreement was entered with the respondents. Subsequently, the respondents introduced the complainant to several prospective purchasers, leading to the execution of some sale agreements with those individuals.

The complainant complained to TG RERA that Sikha Balaraju used his companies, Infy Projects Ltd, Bell Square/Bellcom India Ltd, falsely stating these potential purchasers are licensed and authorised RERA agents. But they have not entered into any agency agreements with Sikha Balaraju and three other respondents. “The respondents falsely represented themselves,” he complained to TG RERA.

The complainant said that FIRs had also been registered by Economic Offences Wing (EOW) of Cyberabad police station against Sikha Balaraju for the alleged fraud and cheating to the tune of Rs 4 crore in relation to complainant’s project Poojitha Tech Park. The respondents have engaged in forging and fabricating signatures and receipts of complainant company representatives. The complainant also filed a police complaint against the respondents to take immediate action against them.

TG RERA established that the respondents were real estate agents not being registered with the RERA Act 2016. Thus, TG RERA authority felt that they had gravely violated the Act and were liable for penalty under Section 62 of the RERA Act 2016. The RERA authority said in its orders issued on May 17 that the relief sought by the respondent regarding imposing maximum penalty had been granted.