HYDERABAD: The Telangana Real Estate Regulatory Authority (TGRERA) has mandated Apoorva Infra to reimburse buyers of plots in the “Swaminarayana Eco Township” in Undrugonda, Chivemla mandal, Suryapet district. The directive comes as the developer failed to complete the project.
TGRERA issued its ruling on February 3 following three complaints.
In two instances, the authority ordered the promoter to pay interest due to delays. In the third, it required a full refund along with interest. The developer cited the pandemic and legal disputes for the project delays.
Refund mandated after cheque bounce
In a complaint from D Shivannageshwar Rao of Suryapet, TGRERA acknowledged that he had made a payment of Rs 4.3 lakh on June 9, 2022, which constitutes a quarter of the total sale price of Rs 17.4 lakh. The complainant stated that the project had not commenced due to disputes between the developer and the landowner, and a refund cheque issued had bounced due to insufficient funds.
TGRERA instructed Apoorva Infra to refund Rs 4.3 lakh along with interest at an annual rate of 10.7%, starting from June 9, 2022, within 40 days of receiving the order. Additionally, RERA mandated the completion of the project and prohibited further advertising or sale of plots until a registration extension is granted.
Interest for delays and marketing restrictions
In separate complaints from Syed Ayesha of Warasiguda and Syed Zeenath of Boudhanagar, both from Secunderabad, TGRERA noted claims of minimal development despite a deadline set for May 24, 2023.
TGRERA ordered the promoter to pay interest at an annual rate of 10.7% on Rs 5.8 lakh in Ayesha’s case. For Zeenath, the authority instructed Apoorva Infra to pay interest on Rs 18 lakh from May 24, 2023, until the final layout is secured and to apply for a registration extension within 15 days.
