- A series of articles by REG News on the Jaya Group prelaunch scam
- TS Rera finally responded
- Pre-launch promoters have to run away!
- Role of AGS Group and EAPL companies
- Sale of flats in pre-launch in Kollur
- RERA issued a show-cause notice
- Fine for not responding
Finally, the Telangana State Real Estate Regulatory Authority (TS RERA) cracked the whip. A fine of Rs 50 lakh was imposed on companies for carrying out advertising and marketing activities contrary to the provisions of RERA. TS RERA has released a press release announcing the same. Going into the details, TS RERA has taken into account that Jaya Group, AGS Srinivasam Properties, and EAPL have jointly conducted pre-launch activities in Kollur, Hyderabad.
The TS RERA authority has collected complete details on this issue. The prelaunch sales claim is true. To this extent, a show-cause notice has been issued to three companies. However, as there was no response from these companies, TS issued orders imposing a fine of Rs. 50 lakh as per Section 59 (1). On this occasion, TS RERA Chairman Dr. N Satyanarayana said that before selling the apartments, construction companies must get RERA permission. Otherwise, they warned that appropriate action would be taken as per the law.
