The Telangana State Real Estate Regulatory Authority (TS-RERA) on Friday imposed a hefty penalty of ₹10.74 crore on Sahiti Infratech Ventures Pvt. Ltd., ₹6.5 crore on Mantri Developers Pvt. Ltd. and ₹25 lakh on Sai Surya Developers Pvt. Ltd., for several alleged violations of the RERA Act, 2016.
In an official release, TS-RERA chairman N. Satyanarayana said the penalties were imposed after a meticulous review of each builder’s conduct with regard to complying with provisions of the Act. The builders have been required to deposit the penalty with TS-RERA within a deadline. Failure to do so may result in further legal action as per the Act.
The chairman, along with members K. Srinivasa Rao and Laxmi Narayana, had already conducted hearings following 132 complaints received against projects titled ‘Sahiti Sishta Abode’, ‘Sahiti Sitara Commercial’ and ‘Sahiti Sarvani Elite’, which had not been registered with the authority.
Hearings had also been held for projects titled ‘Mantri A’ and in the final order, the penalty was levied for violating various provisions of the Act. About four complaints were received for the project titled ‘Nature County’ and others belonging to Sai Surya Developers, and accordingly, penalty was imposed.
Mr. Satyanarayana sought compliance of the provisions of the Real Estate (Regulation and Development) Act, 2016, and the Telangana State Real Estate (Regulation and Development) Rules, 2017, for healthy development of the real estate sector, added the release.
