TG-RERA Fines Myron Homes For Flouting RERA Rules

Hyderabad: The Telangana Real Estate Regulatory Authority (TG-RERA) has imposed a penalty of Rs 1.14 crore on Myron Homes for advertising and marketing a commercial project without mandatory registration under the Real Estate (Regulation and Development) Act, 2016. In an order issued on June 9, the authority found that the company had promoted a proposed commercial project, Myron Mall, at Bachupally in Medchal-Malkajgiri district without obtaining prior registration, which is required before any sale or marketing activity.

TG-RERA held that even proposed projects cannot be advertised without registration and directed the company to pay Rs 1,14,00,932 within 30 days. It also barred the firm from advertising, selling or marketing any project without prior approval.

The authority initiated suo motu proceedings based on information from multiple sources. On verification, it found that no project named “Myron Mall” had been registered and that no application had been submitted seeking registration. RERA examined a promotional brochure in the public domain containing floor plans, commercial layouts, specifications, amenities and indicative pricing, and concluded that the material was intended to attract buyers and investors.

Myron Homes denied the allegations, stating it had neither launched nor proposed a project under the name “Myron Mall”. The company said it was only exploring development possibilities and awaiting approvals, and denied creating or circulating the promotional material.

The authority held that the company failed to provide evidence to show that the brochures were created or circulated without its knowledge. It noted that no police complaint, public disclaimer or legal action had been initiated by the company over the alleged unauthorised use of its name.