Notice given to six real estate firms for violating norms
Hyderabad: Telangana Real Estate Regulatory Authority (TGRERA) has served notices to six real estate companies for violating norms, including pre-launch sales. One of these companies, Bharti Lake View Towers, had allegedly defrauded 350 people of Rs 60 crore.
Others to whom notices were issued were Pragya Ecospring (Miyapur), Sri Siddi Vinayak Property Developers Chintalakunta (LB Nagar), North East Habitation (Kondapur), VR Promoters and Developers (Sangareddy), Invest Infra Project (Kukatpally Housing Board Colony ) and included. Bharathi Lake View Towers (Kompally). They have been asked to reply within 15 days.
“We have given notices based on people’s complaints, online advertisements and publicity through pamphlets. The offense will be established only after the notice is replied to,” said TGRERA tribunal member-2 Srinivas Rao. He said the violations could include fraud and non-registration with TGRERA, among others.
“Only after these real estate companies respond to us will we know whether they at least have a sale deed or a physical site,” said Srinivasa Rao.
TSRERA said in a press release that 210 complaints were settled in the 11 months since the full formation of the authority.
With TSRERA, 8,270 projects have been registered so far and 918 projects were found violating RERA norms and Rs 30.99 crore was imposed as late fee and Rs 13.7 crore was recovered.
