In the first case, TGRERA found that BVR Infra marketed plots in its SV Golden City-III project at Kadthal in Rangareddy district without registration: Reports
HYDERABAD: Telangana Real Estate Regulatory Authority (TGRERA) has directed its secretary to initiate penalty proceedings against BVR Infra Developers and Sivom Projects Pvt Ltd for marketing plotted ventures without mandatory registration under the Real Estate (Regulation and Development) Act, 2016.
In separate orders, the authority directed action against BVR Infra managing partner B. Venkateswarlu and Sivom Projects managing director Isukapatla Sambamurthy. It also ordered BVR Infra to refund ₹10.95 lakh to two buyers, with 10.70 per cent annual interest.
In the first case, TGRERA found that BVR Infra marketed plots in its SV Golden City-III project at Kadthal in Rangareddy district without registration. The venture comprises 85 residential plots and exceeds the exemption limits under the Act.
Complainants M. Sheela and Padma Sreeramulu paid ₹10.95 lakh for Plot No. 28 in five instalments between August and December 2022. However, the developer failed to execute and register the sale deed, hand over possession or complete development works.
TGRERA directed the developer to refund the entire amount, with interest calculated from the respective payment dates until repayment, within 30 days of receiving the order. It also ordered penalty proceedings under Section 59 of the Act.
In the second case, members of the Sivom Social Welfare Association complained about incomplete development at the Sivom Sahasra II plotted venture in Jeedimetla, Hyderabad. Though 40 plots had been registered in buyers’ names, development remained incomplete for over six years, preventing buyers from accessing their plots and undertaking construction.
The venture received tentative layout approval from the Greater Hyderabad Municipal Corporation in December 2019, but development works and final layout approval remained pending.
TGRERA held Sambamurthy and other respondents liable for marketing the project without registration and directed penalty proceedings. However, it declined to grant the association’s requested reliefs in view of pending cases before the High Court and the Medchal-Malkajgiri court, as well as a complaint before the GHMC.
