TGRERA Directs Jayathri Developers to Refund Rs 9 Lakhs to Buyer with 11% Interest
The Telangana Real Estate Regulatory Authority (TGRERA) has ordered Jayathri Developers to refund Rs 9 lakhs to a buyer, along with 11% interest, after failing to deliver the promised commercial units.
Real EstateTgreraJayathri DevelopersReraRefundReal Estate NewsApr 05, 2025
The buyer, who remains anonymous, had purchased commercial units from Jayathri Developers in a project located in Hyderabad. Despite paying the full amount, the developer failed to deliver the units within the stipulated time frame. This led the buyer to file a complaint with TGRERA, seeking a refund and compensation for the delay.
After a thorough investigation, TGRERA found the developer guilty of violating the provisions of the Real Estate (Regulation and Development) Act, 2016 (RERA). The authority ordered Jayathri Developers to refund the entire amount of Rs 9 lakhs to the buyer, along with an interest of 11% on the principal amount. This interest is intended to compensate the buyer for the inconvenience and financial loss suffered due to the delay in delivery.
TGRERA's decision sends a strong message to real estate developers in Telangana, emphasizing the importance of adherence to the guidelines and regulations set by RERA. The authority has been proactive in addressing complaints from homebuyers and ensuring that developers fulfill their obligations.
Jayathri Developers, a well-known real estate company in Hyderabad, has been involved in several high-profile projects in the city. Despite their reputation, this incident highlights the need for transparency and accountability in the real estate sector. The company has been given a deadline to comply with the order and refund the amount to the buyer.
This case serves as a reminder to homebuyers to be vigilant and ensure that they enter into agreements with developers who have a track record of timely project completion and adherence to regulatory norms. It also underscores the importance of registering projects with RERA and obtaining the necessary approvals before commencing sales.
TGRERA's decision is expected to instill confidence among homebuyers and contribute to the overall growth and development of the real estate sector in Telangana. By holding developers accountable, the authority aims to create a fair and transparent market environment for all stakeholders.
In response to the order, a spokesperson for Jayathri Developers stated that the company is reviewing the decision and will take the necessary steps to comply with the authority's directive. They also expressed their commitment to maintaining high standards of quality and service in their projects.
The real estate sector in Telangana has seen significant growth in recent years, driven by increasing demand for residential and commercial properties. However, instances of delays in project completion and non-compliance with regulations have been a cause of concern for homebuyers. TGRERA's proactive approach in addressing these issues is crucial for the sustainable development of the sector.
With this order, TGRERA has once again demonstrated its commitment to protecting the rights of homebuyers and ensuring that the real estate market operates in a fair and transparent manner. This decision is likely to have a positive impact on the overall market sentiment and encourage more homebuyers to invest in projects registered with RERA.
Frequently Asked Questions
What is TGRERA?
TGRERA stands for Telangana Real Estate Regulatory Authority. It is a regulatory body established under the Real Estate (Regulation and Development) Act, 2016, to protect the rights of homebuyers and ensure transparency and accountability in the real estate sector.
Why did TGRERA order Jayathri Developers to refund Rs 9 lakhs?
TGRERA ordered Jayathri Developers to refund Rs 9 lakhs to a buyer because the developer failed to deliver the promised commercial units within the stipulated time frame, violating the provisions of the Real Estate (Regulation and Development) Act, 2016.
What is the 11% interest for?
The 11% interest is intended to compensate the buyer for the inconvenience and financial loss suffered due to the delay in the delivery of the commercial units.
How can homebuyers ensure that developers adhere to RERA guidelines?
Homebuyers can ensure that developers adhere to RERA guidelines by verifying that the project is registered with RERA, obtaining all necessary approvals, and reviewing the developer's track record of timely project completion and compliance with regulations.
What is the Real Estate (Regulation and Development) Act, 2016?
The Real Estate (Regulation and Development) Act, 2016, is a law in India aimed at regulating the real estate sector, protecting the rights of homebuyers, and ensuring transparency and accountability in real estate transactions.
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