Saturday, April 13, 2024
HomePoliticsTS RERA Imposed Rs. 21 Crore for Norms Violation

TS RERA Imposed Rs. 21 Crore for Norms Violation

Hyderabad: The Telangana Real Estate Regulatory Authority (TS Rera) has imposed a penalty of Rs.21 crore on around 10 real estate agencies and issued notices to 27 projects for violating norms.

Since the formation of TS-Rera, 1,092 orders were issued related to penalising the companies that flouted norms.

TS Rera in a press release warned people against buying properties in a pre-launch offer stating that Buildox has sold flats in Hafeezpet Survey No. 80 – a disputed site — and there was no construction activity there.

The hearing of this real estate development group will be held on April 4 following a complaint lodged in March first week of this year. A similar complaint was lodged against the same company in October 2023.

TS Rera said that 9,217 projects had applied for registration and 8,003 projects had been scrutinised and the registration process of 8,003 projects has been completed.

Similarly, 3,765 agents have applied for registration while 3,621 agents have completed their registration.

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