The Telangana RERA Authority has prepared a list of fraudulent real estate companies selling plots and apartments in the name of pre-launch offers. It listed out 14 companies and alerted the citizens not to buy our plots from fourteen real estate companies in four corners of the city. It is said that the RERA authority is ready to release the second list in this regard.
The RERA authority has already sent notices to companies like Bhuvanateja Infra, RJ Homes, and AV Infracon. But, the respective companies have not responded so far. Regarding the RERA notice, it is informed that the RERA authority will be imposing a fine of ten percent of the project value on these companies that have sold plots and flats.
The RERA authorities say that many ventures in Choutuppal, Suryapet on the Vijayawada highway, Sangareddy, Sadasivapet, Narayankhed on the Mumbai highway, Shad Nagar, Jadcherla on the Bangalore National Highway, Sagar Road, many areas on the Srisailam highway, and Yadadri on the Warangal highway are selling plots and flats without the permission of RERA. They suggested to people that they buy plots and flats only from ventures that have taken RERA permission.
Is a Rs 2 crore fine imposed on Prestige Estates?
Prestige Estates, a Bangalore-based company, has come to the attention of RERA for selling flats in pre-launch in Kokapet. Recently, this company applied for RERA. However, the RERA authority, which found out that the flats were sold in the pre-launch, will be able to impose a fine of Rs. 25 thousand on each flat. It is known that this company has sold 800 flats in pre-launch. If we calculate this amount, there is a possibility of imposing a fine of around Rs. 2 crore on Prestige Estates.
Do not buy plots from these companies!
According to Section 3(1) of the RERA Act, it is clear that no plot or flat can be sold without RERA permission. Henceforth, RERA informed that plots, flats, and villas should not be sold in ventures without permission. In this order, those who buy plots, flats, villas, or commercial estates are asked to visit the RERA website for further details on (https://rerait.telangana.gov.in /SearchList /Search).
- RERA says not to buy plots in city-based Yoshitha Infra’s venture in Sadasivapet Town. Similarly, Unique Infra Projects’ Piglipur village is in the same line. According to the list prepared by RERA, the below ventures need to be avoided.
- Alekhya Infra Developers, Sangareddy
- KVS Homes, Pillalamarri Village, Suryapet Survey no. 174
- JB Infra, Choutuppal
- G Square, Devulamma Village, Survey No. 493
- Alekhya Estates, Peddapur, Survey Nos. 497/B, 498, and 499/B, Sangareddy
- Akshita Infra, Suryapet, Vijayawada Highway
- Vishwa Developers, Rajpur, Survey no. 50/P, 140/P, 141/P
- 101 Acres, Pharma Elite, Amaze, Pharma Nature City Nandiparthi, Yacharam
- Bhuvanateja Infra, RJ Homes, and AV Infracon plots and flats
