Tag: Hyderabad

Latest StoriesRegulatory

ED Investigates High-Rise Scam, Seizes Cash Linked to Official

HYDERABAD: The Enforcement Directorate (ED) has uncovered a series of questionable real estate transactions and seized Rs 72 lakh in unaccounted cash during investigations linked to the suspended HMDA director, Siva Balakrishna. The inquiry was triggered by an earlier FIR alleging illegal payments for the approval of a high-rise project by Udaya SSV Projects in Narsingi. This prompted the ED to carry out targeted searches, uncovering incriminating documents tied to several real estate deals and firms. The investigation is rooted in a disproportionate assets case initiated by the Anti Corruption Bureau. The latest searches took place on July 24 at…

Latest StoriesRera

Telangana RERA Penalizes Five Developers for Delays, Violations

HYDERABAD: The Telangana Real Estate Regulatory Authority (RERA) has recently imposed penalties on several real estate developers for infractions regarding the sale of villas, flats, and plots. The rulings were made between July 24 and 25, in response to complaints by dissatisfied consumers against five developers: Suvarnabhoomi Infra Developers Pvt Ltd (Banjara Hills), Maha Infra Developers (Kondapur), Edifice Projects Private Ltd (Jubilee Hills), 2getherments Infra Pvt Ltd, and Bhuvanteza Infraprojects Private Ltd. A complaint by B Suresh Goud and others against Suvarnabhoomi Infra and Maha Infra highlighted the failure to complete the Suvarna Sampada 2 project. Initial commitments required completion…

CommercialLatest Stories

Mindspace REIT buys Q-City in Hyderabad for ₹511.8 crore

NEW DELHI: Mindspace Business Parks REIT (Mindspace REIT) has fully acquired Mack Soft Tech (MSTPL), which operates ‘Q-City’, a 0.81 million sq ft commercial property located in Hyderabad’s Financial District, for ₹511.8 crore. The acquisition was executed via Horizonview Properties, an asset special purpose vehicle of Mindspace REIT. The property will be rebranded as ‘The Square, 110 Financial District’ and currently boasts a 65% occupancy rate. The move bolsters Mindspace REIT’s presence in Hyderabad to over 16 million square feet overall. Ramesh Nair, CEO and MD of the company, remarked, “Acquiring the property at an 11.6% discount to an independent…

Latest StoriesRera

Telangana RERA Fines Roy All Diamond for Plot Fraud

Sure! Here’s a rewritten version of the provided content: HYDERABAD: The Telangana Real Estate Regulatory Authority (TGRERA) has levied a penalty of ₹4.5 lakh on Roy All Diamond Infra Developers for misrepresentation and unauthorized marketing of a residential plot. The authority found that the firm had taken ₹9 lakh from complainant Madikonda Mallesh despite not having any legal ownership or authorization over the property. Mallesh, a 40-year-old government employee from Mallapur, lodged a complaint after realizing that the plot he intended to buy in the undertaking ‘Kaasvi E-City’ did not actually belong to the developer. In his complaint, he reported…

Latest StoriesResidential

Indiramma Housing Project Delayed Due to Centre’s Warning to Telangana

HYDERABAD: Hopes for swift central funding for the initial phase of the Revanth Reddy government’s ambitious Indiramma housing scheme in rural areas faced a setback. The Union Housing Ministry communicated to the state that the submitted proposals do not meet the required norms. The state government submitted a list of housing beneficiaries to secure funds under the Pradhan Mantri Awas Yojana (Rural) scheme. Under PMAY (Rural), the ministry allocates ₹72,000 per housing unit, while the state government must cover the remaining cost. In its correspondence, the Union ministry instructed officials to upload live facial authentication using Aadhaar for each beneficiary…

Latest StoriesRera

Telangana RERA Fines Realty Firm for Mokila Layout Violations

HYDERABAD: The Telangana Real Estate Regulatory Authority (TGRERA) has levied a fine of ₹38.5 lakh against a real estate firm for regulatory breaches and deviations from authorized plans at its villa project located in Westend Greens, Mokila, in Ranga Reddy district. The promoter was found guilty of violating Sections 11, 14, and 61 of the Real Estate (Regulation and Development) Act, 2016. TGRERA has ordered an immediate suspension of marketing or sale of villas until the project is officially registered with the authority. The complaint was jointly submitted by five Westend Greens residents: Tumpi Shome, Sailaja Nukala, Monika Singh R,…

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Telangana RERA Penalizes Ashritha Group for Jubilee Hills Violations

HYDERABAD: The Telangana Real Estate Regulatory Authority (TG RERA) has ordered the Ashritha Group, located in Jubilee Hills, to register two residential flats to homebuyers, alongside imposing a ₹3 lakh penalty for breaching statutory obligations under the Real Estate (Regulation and Development) Act. This directive follows complaints lodged by two Miyapur residents, Srinivasulu Bode and C. Malleswari Nandireddy, who entered sale agreements in 2021 for two flats within ‘Jewels County,’ a residential project approved by HMDA and registered with RERA. The complainants alleged that the builder did not adhere to the terms of the agreement, issued retracted payment receipts, and…

Latest StoriesRera

Telangana RERA penalizes BhuvanTeza for unregistered sales

HYDERABAD: The Telangana Real Estate Regulatory Authority (TG RERA) has imposed a penalty of ₹6.45 lakh on BhuvanTeza Infra Projects, located in Banjara Hills, for not registering their residential project ‘Happy Homes-1’ in Shamirpet. The project was marketed and sold without the required registration under Section 3 of the Real Estate (Regulation and Development) Act, between 2020 and 2023. The complaint was lodged by Appam Kiran Kumar and three others, who were buyers in the proposed apartment scheme. The buyers argued that the project was aggressively promoted during its pre-launch phase, with promotional materials, site plans, and verbal assurances of…

IndustryLatest Stories

Telangana Secures ₹1,500 Cr for Indiramma Housing Scheme

HYDERABAD: The ongoing Indiramma housing scheme in urban Telangana received a significant boost as the Central government approved 1.13 lakh housing units under the Pradhan Mantri Awas Yojana (PMAY-Urban 2.0). This approval translates to nearly Rs 1,500 crore in Central funding for the state. A senior official in the housing department informed TOI that Telangana ranks first among Indian states in receiving a Rs 1,500 crore allocation for housing under PMAY-Urban 2.0. Notably, even Bihar, which is heading into elections, has not received such a substantial sanction, nor have BJP-ruled states like Uttar Pradesh or Gujarat. Chief Minister A. Revanth…

Latest StoriesRera

Telangana RERA Fines Agent for Promoting Unregistered Flats

HYDERABAD: The Telangana Real Estate Regulatory Authority (TG RERA) has imposed a fine of Rs 6.17 lakh on a real estate agent for promoting an unregistered project and impersonating the builder to issue receipts to buyers. RERA has also instructed builders, Aaditri Housing, to complete the flat and register it in the complainant’s name after clearing the mortgage, with further penalties threatened for any delays. This case arose from a complaint by Venkata Naga Sai Gupta Chegu, a bank manager from Khammam, against Aaditri Housing Pvt. Ltd, along with agents Jakkepalli Sri Lakshmi and Jakkepalli Appa Rao. Sai Gupta claims…