Hyderabad: The Telangana Real Estate Regulatory Authority (TGRERA) has taken strict action against Bhuvanteza Infrastructures LLP for delaying the Aura Velimala residential project and failing to register it under RERA regulations.
Key Violations and Buyer Complaints
- Homebuyers filed complaints stating that the builder had promised to deliver flats by December 2023, but by mid-2024, only 20% of the work was completed.
- Many buyers faced financial struggles, having to pay both rent and home loan EMIs while waiting for their homes.
- The builder failed to register the project under Section 3 of the Real Estate (Regulation and Development) Act, 2016, which is a legal requirement.
- Buyers alleged that the funds collected may have been diverted to other projects, further delaying construction.
RERA’s Decision
After reviewing the case, RERA ordered the builder to refund the money collected from buyers along with interest and imposed penalties for legal violations. The authority also noted that Bhuvanteza Infrastructures LLP had a history of similar violations, raising concerns for future buyers.
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