Hyderabad: Telangana Real Estate Regulatory Authority (TGRERA) has cautioned buyers and general public against illegal sale of plots in Hyderabad.
TGRERA has urged the general public to refrain from purchasing plots in real estate projects promoted by Krithika Infra Developers. TGRERA imposed a penalty of Rs 9.96 lakh on Krithika Infrastructure Private Limited for engaging in marketing and advertising in violation of several rules.
The penalty was imposed following several complaints by customers who stated that despite making payments, the firm did not execute and register the sale of deeds.
In a statement, the TGRERA said that complainants had made agreements of sale with Krithika Infra Developers Private Limited for the purchase of plots in “Sheshadri’s Silver Oak” at survey no 215, Boduppal Village, Medchal-Malkajgiri.
Following complaints, TGRERA observed that “Sheshadri’s Silver Oak” project at Boduppal was not registered with the authority. No application was submitted by the promoters for registration and the management did not obtain requisite building permission and layout permissions from HMDA and GHMC.
Further, the management collected amounts exceeding the prescribed limits from allottees without executing and registering any written agreement for sale.
“The entity has fraudulently collected substantial amounts from the general public without fulfilling their legal obligations, thereby cheating the buyers,” the authority added.
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