Crackdown on Hyderabad Real Estate Firms: Six Companies Served Notices for Violating Norms
Telangana Real Estate Regulatory Authority
Real EstateHyderabadTelanganaTgreraReraReal Estate NewsMay 26, 2024
These companies have been given 15 days to respond to the notices, which were served based on complaints from people, online advertisements, and publicity through pamphlets. According to Srinivasa Rao, member-2 of the TGRERA tribunal, the violations can range from cheating to not registering with TGRERA.
It is only after the companies respond to the notices that the offences will be established, said Srinivasa Rao. The authority will then check if these companies have a sale deed or a physical site in place.
In a press release, TGRERA stated that in the 11 months since its formation, 210 complaints have been adjudicated. Furthermore, 8,270 projects have been registered so far, and 918 projects were found to have violated RERA norms. The authority has imposed a delinquency fee of Rs. 30.99 crore and recovered Rs. 13.7 crore.
The Telangana Real Estate Regulatory Authority (TGRERA) was established to regulate the real estate sector in Telangana. Its primary objective is to protect the interests of homebuyers and promote fair play in real estate transactions.
The Telangana Real Estate Regulatory Authority (TGRERA) is a statutory body responsible for regulating the real estate sector in Telangana. It was established under the Real Estate (Regulation and Development) Act, 2016.
Frequently Asked Questions
How many real estate companies were served notices by TGRERA? A: Six real estate companies were served notices by TGRERA Q: What is the alleged cheating amount by Bharti Lake View Towers? A: Rs 60 crore Q: What is the time frame given to the companies to respond to the notices? A: 15 days Q: How many projects have been registered with TGRERA so far? A: 8 270 projects Q: What is the total delinquency fee imposed by TGRERA? A: Rs 30 99 crore
Answer not available
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