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A Rs 10.74 crore fine imposed on Sahiti and Kesineni developers
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A fine of Rs 6.50 crore on Mantri Developers
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A fine of Rs 25 lakh on Sai Surya Developers
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TS RERA Chairman cracks down on illegal trademarks
TS RERA has given a shocker to many real estate companies that have violated RERA norms by not responding to show cause notices, not attending RERA hearings, and engaging in campaigning and marketing activities without obtaining RERA permission. Two builders and a realtor have been fined around Rs 17.50 crore.
TS RERA lashed out at Sahithi Group for grossly cheating innocent buyers. It is known that this company has sold flats in many projects without RERA permission. Sahiti Sitara is selling commercial space in Gachibowli in association with Kesineni Developers. Apart from this, Sahiti has taken up sales in Sahiti Sista Abode and Sarvani Elite. Even though the RERA notices were issued, the literature company did not respond much. Sarvani Elite was directed to submit the documents related to the project, but it failed to do so. After the notices were issued, they were ordered to attend the hearing, but they did not pay heed. With this, TS Rera collected the complete details of all the projects undertaken by this company. The Sahiti company, which has taken up many projects in violation of the RERA regulations, has been fined Rs. 10.74 crore as a delinquency fee. TS RERA has warned that further action will be taken as per Section 59(2) of RERA if the delinquency fee is not paid within fifteen days.
What does Section 59 (2) say?
According to TS Rera 59 (2), if the real estate promoter disobeys the RERA orders, he/she will be imprisoned for about three years. A fine of ten percent of the total project value will be imposed. There are also chances to impose both together.
