RERA directed Vasavi Realtors to complete the project within a fixed timeline and ordered it to pay interest to the buyers for the delay.
Hyderabad: The Real Estate Regulatory Authority (RERA) has pulled up Vasavi Realtors LLP after a spate of complaints from homebuyers who accused the builder of failing to hand over flats on time despite receiving most of the agreed payments.
Buyers said they were promised possession by August 2023, but even by February 2025, only 60–70 per cent of the construction had been completed. Many complainants, who invested over Rs.1 crore, alleged that the builder repeatedly assured delivery but failed to keep its word. They also cited deviations from promised specifications, including smaller balconies and utility spaces, and said the delays caused financial strain and emotional distress.
In response, Vasavi Realtors blamed the Covid-19 pandemic, labour shortages and logistical challenges, arguing that extensions granted during the pandemic excused the delay.
RERA rejected the defence, noting that all agreements of sale were signed after the peak of the pandemic. The authority ruled that the builder was fully aware of its commitments when giving possession dates and could not cite Covid-19 as a justification.
RERA directed Vasavi Realtors to complete the project within a fixed timeline and ordered it to pay interest to the buyers for the delay.
