RERA AUTHORITY of Telangana
RERA has imposed a fine of Rs 20 lakh on a Hyderabad-based builder for failing to hand over a flat to the buyer. Additionally, the builder has been ordered to refund Rs 1.2 crore paid by the buyer. The RERA Chairman N. Sathyanarayana issued these orders.
Reliance Developers, with S. Poorna Chandra Rao as a partner, undertook a project named Reliance Eternis in Begumpet. A woman named Bhaskara Shobharani purchased a flat for Rs 1.32 crore. Out of this, almost 90% of the total amount, Rs 1.2 crore, was paid to Rajesh Kiran, the son of Poorna Chandra Rao. The remaining amount was to be paid after the completion of the fifth-floor slab, brickwork, and plastering.
However, from 2019 onwards, despite several requests for the remaining amount and the execution of the sale deed, the builder did not respond. Meanwhile, Rajesh’s wife and company partner, Ravali, came into the scene, announcing through a public notice that their company was closing and advising against entering into any property purchase agreements.
In response, the buyer approached Telangana RERA, which was contested by Reliance Developers. They argued that the agreements made with Rajesh Kiran had no value and that no one had signed those documents. They also claimed that the complainant failed to pay the remaining amount.
After hearing both sides, RERA clarified that all partners of Reliance Developers were responsible for the issue. It ordered a refund of Rs 1.2 crore to the complainant with 10.85% annual interest within 45 days and imposed a penalty of Rs 20,02,762 for regulatory violations.
This website uses cookies.