TGRERA Orders Refund, Declares Builder Defaulter

Hyderabad: The Telangana Real Estate Regulatory Authority (TGRERA) has directed BhuvanTeza Infra Projects Pvt. Ltd to refund ₹41 lakh to a buyer and declared the company a defaulter.

The complainant had purchased a 1,700 sq. ft. three-bedroom flat in the pre-launch phase of the ‘Aura Velima Phase-I’ project in Sangareddy district. Despite paying the amount, the property was not handed over.

Acting on the complaint, TGRERA ordered the developer to refund ₹41 lakh with interest at 10.70 per cent per annum from October 10, 2021 until the date of actual repayment.

With the company declared a defaulter, all developmental activities in the project stand terminated with immediate effect. The firm has also been restrained from advertising, marketing, booking, selling, or offering for sale any apartment in the project or in future projects.