The Telangana Real Estate Regulatory Authority (TG RERA) has slapped a penalty of 14.9 lakh on a real estate developer and its partners for failing to register their project 'Aura Velimala Phase 1' and for misusing funds.
ReraReal EstateTelanganaAura VelimalaHomebuyersReal Estate NewsMay 25, 2025
The Telangana Real Estate Regulatory Authority (TG RERA) imposed a penalty of 14.9 lakh on the developer for failing to register their project and for misusing funds.
The developer is accused of non-compliance with the project 'Aura Velimala Phase 1' in Velimala, Sangareddy district.
The main violations include failing to register the project under the Real Estate Act, diverting funds, and continuing to sell units despite construction stagnation.
As of June 2024, the construction progress on the project 'Aura Velimala Phase 1' remained at only 20%, with no significant work done on the A and B blocks.
RERA has ordered the developer to refund the amounts paid by 62 allottees with 11% interest, apply for project registration without delay, and refrain from marketing or selling units until registration is approved.
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