Telangana RERA Imposes Rs 3.69 Lakh Fine on Four Realtors for Fraud
The Telangana State Real Estate Regulatory Authority (TG RERA) has slapped a fine of Rs 3.69 lakh on four realtors for engaging in fraudulent activities, including forging signatures and receipts of the complainant company Viana Homes Pvt Ltd, Gachibowli.
Telangana ReraReal Estate FraudViana HomesSikha BalarajuRera Act 2016Real Estate NewsMay 31, 2025
Sikha Balaraju approached Anji Reddy, the managing director of Viana Homes Pvt Ltd, 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. Despite discussions, no express agreement was finalized 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, Viana Homes, alleged that Sikha Balaraju used his companies, Infy Projects Ltd, Bell Square/Bellcom India Ltd, falsely stating that these potential purchasers were licensed and authorized RERA agents. However, no agency agreements were entered into with Sikha Balaraju and the other respondents. The complainant also alleged that the respondents falsely represented themselves and engaged in forging and fabricating signatures and receipts of the company's representatives.
FIRs were also registered by the 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 the Poojitha Tech Park project. The complainant filed a police complaint against the respondents to take immediate action against them.
TG RERA established that the respondents were real estate agents not registered with the RERA Act 2016. Thus, the 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, in its orders issued on May 17, granted the relief sought by the complainant regarding the imposition of the maximum penalty.
This decision by TG RERA is a significant step in ensuring transparency and accountability in the real estate sector, which is crucial for the growth and development of the industry in Telangana.
Frequently Asked Questions
What is the fine amount imposed by TG RERA on the four realtors?
The fine amount imposed by TG RERA on the four realtors is Rs 3.69 lakh.
Who are the respondents involved in the fraudulent activities?
The respondents involved in the fraudulent activities include Sikha Balaraju and three other realtors.
What was the nature of the fraudulent activities?
The fraudulent activities involved forging signatures and receipts of the complainant company, Viana Homes Pvt Ltd, and falsely representing themselves as licensed RERA agents.
What project was the fraud related to?
The fraud was related to the Poojitha Tech Park project, a commercial complex in Kokapet village, Ranga Reddy district.
What is the significance of this decision by TG RERA?
This decision by TG RERA is significant as it ensures transparency and accountability in the real estate sector, which is crucial for the growth and development of the industry in Telangana.
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