TGRERA orders refunds in five Aura Velimela cases, halts Bhuvanteza project
HYDERABAD: The Telangana Real Estate Regulatory Authority (RERA) has ordered Bhuvanteza Infra to refund amounts to five homebuyers in the Aura Velimela Phase-2 project after finding delays in completion and failure to hand over possession. Earlier in few other cases also the authority declared Bhuvanteza as defaulter and issued similar orders. The authority also terminated development activity and restrained the promoter from further sales.
The refunds ordered across five complaints total about ₹1,25,81,000, with interest at 10.70% per annum from the agreement dates till repayment. The authority invoked Sections 37 and 38 of the Real Estate (Regulation and Development) Act, 2016.
Buyers paid advances; project remained incomplete
Pemmaraju Sowjanya booked Flat No. 911, Block-A, measuring 2,415 sq ft, and paid ₹17,00,000. Possession was not delivered despite the agreement dated May 9, 2022.
Srikantha Sai Naga Raja purchased Flat No. 908, Block-A, measuring 2,415 sq ft, and paid ₹19,00,000. The complainant also obtained a loan, but the project remained incomplete.
Srikantha Manoj Sai Surya booked Flat No. 909, Block-B, measuring 1,705 sq ft, and paid ₹20,00,000. Possession was not handed over.
Srikanta Satya Narayana purchased Flat No. 108, Block-D, measuring 1,145 sq ft, and paid ₹29,77,000. TGRERA directed refund of ₹28,77,000 with interest and allowed submission of proof for the remaining ₹1,00,000.
L V S Sasidhar Kota booked Flat No. 410, Block-A, measuring 1,700 sq ft, and paid ₹40,04,000 in a prelaunch sale. The authority ordered refund with interest within 45 days.
Project activities terminated, penalties warned
RERA declared the developer a defaulter for “continuous and wilful violation” of the Act. All developmental activities in the project were terminated with immediate effect.
The authority restrained the promoter from advertising, marketing, booking or selling apartments in the project or any future project. It warned that failure to comply would attract penalty under Section 63 of the Act.
