TGRERA orders builder to refund Rs 11.25 lakh with interest for delayed project
The Telangana Real Estate Regulatory Authority (TGRERA) has ordered Hyderabad-based Jayathri Infrastructure India to refund Rs. 11.25 lakh, with 10.80% interest, to a buyer for failing to deliver on a commercial property deal.
Hyderabad: Telangana Real Estate Regulatory Authority (TGRERA) directed a Hyderabad-based builder, Jayathri Infrastructure India, Kukatpally, to pay Rs 11.25 lakh, along with interest of 10.80%, to the complainant, for non-compliance with the Memorandum of Understanding (MoU) in a commercial space deal.
Kalvala Suman, resident of Chowdaryguda had an ‘MoU’ with Jayathri Infra in 2022 and paid Rs 10.25 lakh for purchase of 250 sq yards commercial space, in the project Western Galaxy, at Gopanpally village. The complainant said the builder assured the fully constructed property would be handed over by December 2024.
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The complainant approached TGRERA regarding the inordinate delay in the completion of the project and sought relief. The TGRERA directed the Engineering Staff College of India (ESCI) in October 2023 to inspect the site and submit a report. “The project site remains vacant with no progress,” ESCI stated in its report.
The complainant sought a refund of the total amount as the respondent has failed to fulfill its contractual obligations as per the terms of MoU.
