REGNews was the first to bring the Buildox scam to light.
Kaleshwar Vasgi is the director of Buildox Company.
Sale of flats without permits in Hafeezpet Survey No. 80
Promotion on Facebook and other social media platforms.
The Telangana RERA Authority has recently given a key verdict. It imposed a fine of Rs 3.96 crore on Buildox for selling flats without permit on Hafeezpet Survey No. 80 in pre-launches. To this extent, the latest verdict was issued after the final hearing on Thursday. This matter was first brought to light by REGNews.
The TS RERA authority has issued a notice to the company based on an article published in the REGNews paper about the pre-launch sales of Buildox. In response to this, Buildox said that they do not have any land parcels in Hafeezpet Survey No. 80, and they have not entered into a development agreement with anyone to do the project. Buildox first replied that they are trying to collect places in areas where marketing is possible in Hyderabad, which has scope for development. They informed that they have not released any announcements.
TS RERA issued a second notice, saying it was not satisfied with Buildox’s reply. In Hafeezpet Survey No. 80, it is stated that there is evidence of the sale of flats under the guise of building a group housing project. Later, the TS RERA Authority issued a statement not to buy flats in Buildox. RERA stated that on February 10, 2024, a person named Sarath saw and clicked on an ad on Facebook. Kamal in the sales team of Buildox came in touch and provided all the details of the project under Hafeezpet Survey No. 80. He then handed over a cheque for two lakh rupees for the flat to a Buildox director named Devender. However, later, he came to know that the project was not approved by RERA, and he complained to RERA. Buildox replied to RERA that they have filed a complaint on Facebook as someone else is doing this in their name. But there is no evidence of a complaint being made to Facebook.
RERA has observed that the pre-launch announcement issued by Buildox is still being circulated on Facebook; it is spreading wrong information to the people. The TS RERA authority, realising that cash was being collected from the buyers, has levied the delinquency fee under Sections 59 and 60 of the TS RERA Act. Lawyers on behalf of Buildox sought three weeks to file counter-filings. The RERA Authority has taken into account the fact that Buildox’s advertisements are still being circulated on Facebook. The TS RERA Authority said in a statement that the delinquency fee has been imposed to prevent buyers from being cheated. The TS RERA Authority has issued interim orders to Buildox not to continue any advertisement, marketing, or sales in the matter of the Buildox project. The RERA Tribunal ordered Buildox to immediately remove the Facebook ads.
