If one sells flats in pre-launches on lands that are not in legal dispute in GHMC or HMDA limits, then it becomes very easy to calculate the RERA penalty. Also, if flats are sold in the pre-launch on the land that is in dispute with the Supreme Court, how will the fine be calculated and collected from the construction company? Will it actually be collected or not?
In the early days of the formation of TS RERA, RERA collected fines from some companies. It has also issued notices to some companies. Later on, there was no information about these kinds of notices. Now in the Congress government’s regime, will the TS RERA authority issue notices to the pre-launch companies and leave the scene to them, or will it actually collect fines? In fact, it is reported that Buildox has already sold a large number of flats through some channel partners. The talk in the market is that it has collected at least Rs 200 crore so far through pre-launch sales alone. If no action is taken against this company, there is a risk of collecting more money from some innocent people. Therefore, a fine has to be collected from companies like Buildox by TS RERA.
