The Telangana Real Estate Regulatory Authority (TG RERA) has warned the public against purchasing plots from Krithika Infra Developers Pvt. Ltd. and Krithika Infra Developers, following multiple complaints from buyers who alleged they were cheated by the company.
Hyderabad:The Telangana Real Estate Regulatory Authority (TG RERA) has warned the public against purchasing plots from Krithika Infra Developers Pvt. Ltd. and Krithika Infra Developers, following multiple complaints from buyers who alleged they were cheated by the company.
Several buyers said they paid either full or partial amounts for plots in a project named “Sheshadri’s Silver Oak” in Boduppal, Medchal–Malkajgiri district. However, the developers allegedly failed to register the sale deeds in the buyers’ names even after collecting payments.
On investigation, TG RERA found that the project had not been registered with the Authority, which is a violation of the Real Estate Regulation and Development (RERA) Act, 2016. Under the Act, no builder can promote or sell a real estate project without registering it with RERA. The developers also failed to obtain necessary permissions from local bodies such as the HMDA or GHMC for plotting or development.
RERA has imposed a penalty of `29.96 lakh on the firm for illegally advertising and selling plots. The Authority further noted that the company had collected more than 10 per cent of the plot cost from buyers without executing a proper sale agreement, which is also illegal under the Act.
RERA stated that the developers had clearly misled and defrauded innocent buyers by collecting large sums without fulfilling legal obligations. The public is strictly advised against purchasing plots or entering into any agreements with these companies. Those who have already made payments are urged to report the matter and seek legal recourse.
