Telangana RERA Fines Vasavi Realtors for Delay in Flat Delivery
HYDERABAD: The Telangana Real Estate Regulatory Authority (TG RERA) has mandated Vasavi Realtors LLP to pay 10.8% annual interest to buyers of the Vasavi Lake City project at Hafeezpet due to delays in possession delivery. A group of 23 buyers, including Venkata Satya Naga Sudheer Kurapati from Miyapur, lodged a complaint citing significant delays and poor communication from the developer regarding the west wing of the project. The original handover was set for August 2023 but saw extensions to February 2024 and then February 2025, none of which were fulfilled. The buyers reported having paid a total of 1 crore,…