TGRERA cracks down on 3 builders, imposes penalties, compliance orders
TGRERA issued three separate orders against real estate developers, including a Rs 20 lakh penalty on BVR Infra for failing to deliver a plot, directions to Sri Sai Builders to rectify poor-quality works, and compliance instructions to Mantri Developers and Jubilee Hills Landmark Projects
Hyderabad: TGRERA imposed a penalty of Rs 20 lakh, with interest at the rate of 10.75% per annum on Hyderabad-based BVR Infra Developers Pvt Ltd and directed it to pay the amount to the complainants, Yarlagadda Ammaji and Yarlagadda Atchyuta Ramayya of Defence Colony, Sainikpuri in Malkajgiri, within 30 days from receipt of the order, citing that the developer failed to deliver the plot as per the ‘memorandum of understanding’ (MoU).
In the second instance, TGRERA directed Sri Sai Builders and Developers, Nagaram, to undertake and complete all necessary rectification works in respect of defects identified by the flat owners of ‘Sri Sai Residency’, Madhura Nagar. The owners had approached the authority and complained that the civil works and plastering on the external pathway (setback area of the apartment) were of poor quality. The developer must complete all rectification works within 30 days from the date of the order.
In the third instance, TGRERA instructed Mantri Developers Private Limited, Bengaluru, and Jubilee Hills Landmark Projects Private Ltd, Hyderabad, to adhere scrupulously to all obligations cast upon them under the Agreement of Sale, not to undertake any unilateral action affecting the rights of the complainant, Kamal Jain of Begum Bazar, and to maintain full transparency with respect to the construction schedule, progress and issuance of demand notices.
Telangana Real Estate Regulatory Authority (TGRERA) including Dr N Satyanarayana, chairperson, and members K Srinivasa Rao and Laxmi Narayana Jannu of TGRERA, issued the orders on November 29, against the three real estate developers.
