TGRERA Given Registration Extension, Says Vasavi
Vasavi Group stated that while Block 9 construction had been completed, work on Block 8 was delayed due to court cases.
Hyderabad: Vasavi Group has stated that TGRERA has given them an extension of registration for its Vasavi Urban project in Bachupally up to August 3, 2026. It said they were extending goodwill support of Rs.7,000 per month per flat to the owners from September until the flat’s handover.
Abhishek Chanda, director of Vasavi Group, at a press conference stated that construction activity at the project was active and ongoing.
He said that circumstances like Covid-19 had caused disruptions in construction of certain blocks in the project, and TGRERA has granted a statutory extension of registration which is valid up to August 3, 2026.
He stated that the group held a customer meeting on August 30 in Kompally, where they clarified that the final project delivery timelines will be communicated after an internal review, and no specific handover date was announced. He said that after a detailed review, they communicated the final block-wise handover and GHMC OC timelines to all customers on November 28.
The developer extended a goodwill support of `7,000 per month dating from September until handover, without admission of contractual or statutory liability.
Vasavi Group stated that while Block 9 construction had been completed, work on Block 8 was delayed due to court cases. They offered an option to customers of Block 8 to other available blocks without any additional financial burden.