TS RERA Levies Rs. 21 Crore Penalty for Norms Violation
The Telangana Real Estate Regulatory Authority (TS Rera) has levied fines totaling Rs. 21 crore on approximately 10 real estate agencies and has issued notices to 27 projects for violating regulations. Since its establishment, TS-Rera has issued 1,092 orders penalizing companies for non-compliance with regulations.
In a press release, it has cautioned the public against purchasing properties through pre-launch offers, citing an instance where Buildox sold flats in Hafeezpet Survey No. 80—a disputed site—with no construction activity taking place.
TS RERA Levies Rs. 21 Crore Penalty for Norms Violation
A hearing regarding this real estate development group is scheduled for April 4, following a complaint filed in the first week of March this year. A similar complaint was lodged against the same company in October 2023.
It has reported that 9,217 projects had applied for registration, out of which 8,003 projects have undergone scrutiny, and the registration process for these projects has been completed. Additionally, 3,765 agents have applied for registration, with 3,621 agents having completed the registration process.
