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 rapid possession and legal clearances.
The managing director, Chekka Venkata Subramanyam, allegedly indicated that the necessary approvals from HMDA, TG RERA, and the revenue department for land conversion were either acquired or forthcoming.
The complainants asserted that land parcels identified by survey numbers 685 and 686 were registered in their names as security. Development agreements were executed to consolidate undivided shares for project development.
The payments were made by cheque, cash, and digital methods, often without formal receipts or registered documentation.
However, the buyers discovered no signs of development or construction at the site. Statutory approvals were never provided, and repeated requests for refunds were met with evasiveness and intimidation. The project remained unregistered and stalled.
TG RERA has directed the builder to pay a fine of ₹6.4 lakh within 30 days and to refund the principal amounts received from the complainants, along with 11% interest per annum from the payment dates, within 90 days.
