HYDERABAD: The Telangana Real Estate Regulatory Authority (TSRERA) has slapped show-cause notices on five builders for allegedly violating norms in real estate projects and ordered them to submit their response within 15 days.
As per the instructions of TSRERA chairman N Satyanarayana, secretary Balakrishna on Wednesday issued show cause notices to the five builders, Radhe Group Real Estate Company, Om Shree Builders & Developers, TMR Construction Company, Suvarna Bhumi Infra Developers and Bhuvana Teja Infra.
Radhe Group was served notice for putting up for sale the Radhe Panorama project at Usman Nagar in Ramachandrapuram mandal of Sangareddy district in the name of ‘free launching’ without obtaining RERA registration.
Similarly, Om Shree Builders Developers has been served a notice for taking up an additional E Block at its Om Shree Signet project without permission from TSRERA. It has got permission only for A, B, C, and D blocks, the notice said. Bhuvana Teja Infra project was found guilty of free launch sale of plots in Hyderabad and other cities in the State at low prices.
TMR came under the scanner of the regulatory authority for carrying out promotional activities through pamphlets and brochures without displaying the registration number. Suvarna Bhumi Infra Developers was served a cause notice for the sale of a plot in Yellapur near Patancheruvu of Sangareddy district without RERA registration.
Satyanarayana warned that any pre-launching/UDS/EOI programmes of real estate projects without the approval of HMDA, GHMC, UDA or local bodies and TSRERA registration would face strict action under the RERA Act. He explained that RERA provides security for the hard work of the common man and for the money of the customers.
A separate bank account with 70 per cent of funds for each project should be opened and the amount should be spent only for that project, he said and added that the funds of one project should not be diverted to another to ensure timely completion of apartments. He further stated that a certification from the civil engineer, architect and charted accountant concerned is mandatory to draw and use funds for projects.
The details of construction, utilisation of funds, bookings, etc., must be submitted to “Rera”.He made it clear that giving false assurances, changing the terms of booking of plots, houses and other buildings, and altering permitted layouts and plans are not valid under the RERA Act.