RERA Fined Pranith Koncepts Rs. 43 Lakhs For Unregistered Sales And Marketing
The authority noted the delay in completion of the registered portion of the project beyond the declared timeline of December 2024, and directed the promoter to submit a detailed stage-wise construction progress report, a statement of financial utilisation of project funds, and a revised timeline for completion duly supported by an affidavit within two weeks.
Hyderabad: TG-RERA passed an interim order against Pranith Koncepts for its “Pranith Koncepts Ambience” project in Puppalguda, penalising the company Rs 43.71 lakh following complaints of alleged unauthorised marketing and sale of units.
RERA observed that Pranith Koncepts was granted registration under the RERA Act for Blocks A, C and D of the Ambience project, but had proceeded to advertise, market and offer for sale units in Blocks B, E, F and G, including additional floors, without obtaining mandatory registration as required under Section 3(1) of the Act.
The authority noted the delay in completion of the registered portion of the project beyond the declared timeline of December 2024, and directed the promoter to submit a detailed stage-wise construction progress report, a statement of financial utilisation of project funds, and a revised timeline for completion duly supported by an affidavit within two weeks.
RERA permitted the allottees of flats to initiate the process of constituting the association independently, and has directed Pranith Koncepts to furnish the complete list of allottees along with all project documents to enable the formation of an association, protecting the rights and interests of the homebuyers.
In another case, RERA directed Pacifica Constructions to remove late payment charges linked to previous flat owners in a dispute involving multiple homebuyers at the Aavaas Hyderabad project in Bachupally.
The buyers alleged that the builder imposed late payment penalties that were incurred before the flats were allotted to them in December 2018. After examining the records, the Authority observed that the builder failed to provide documentary proof showing that the complainants had agreed to take responsibility for the previous allottees’ liabilities.
RERA directed the builder to revise the statement of accounts by excluding all late fees attributable to previous allottees. Any late payment charges can only be calculated based on delays, if any, committed by the present buyers after their allotment.