HYDERABAD: The Telangana Real Estate Regulatory Authority (TSRERA) has cautioned the public against making any transactions or purchasing any plots in the real estate projects purported to be promoted by M/s Kritihika Infra Developers Pvt. Ltd. and M/s Krithika Infra Developers.
It stated that several complaints have been received by the authority against the promoters/developers represented by their MDs, D Srikanth and Shashikanth and Radhabukya.
The complainants have stated that they entered into agreements of sale with the entities for the purchase of plots in the project titled “Sheshadri’s Silver Oak”, situated in Survey No. 215 of Boduppal village, Medipally mandal, Medchal-Malkajgiri district, and have paid either full or part consideration amounts towards the sale of the plots.
However, it has been alleged that despite receipt of such amounts, promoters/developers have failed to execute and register the sale deeds in favour of the respective purchasers. Furthermore, the present whereabouts of the promoters/developers are reportedly unknown.
Aggrieved by the inaction, complainants have approached TSRERA seeking appropriate directions for refund of the amounts paid and initiation of legal action against the promoters/developers under the applicable provisions of law.
It is observed that the project “Sheshadri’s Silver Oak” situated at Boduppal is not registered with TSRERA. No application has been submitted by the promoters for registration of the project under the provisions of the Act. They have not obtained requisite building permissions and layout permissions from local competent authorities i.e HMDA and GHMC.
The TSRERA in December 2024 imposed a penalty of Rs 19.96 lakh n M/s Krithika Infrastructure Pvt.Ltd for engaging in marketing and advertising activities in violation of Section 3 of the Real Estate (Regulation and Development) Act, 2016.