Hyderabad: TGRERA orders Bharathi Builders to refund buyers for stalled Kompally project.
A significant ruling has emerged from Hyderabad's real estate landscape. Telangana RERA has stepped in, issuing a directive to Bharathi Builders Pvt Ltd concerning their stalled 'Bharathi's Lake View Apartments' project in Kompally. Buyers who invested in this project, which never saw construction begin, are now due a refund with 10.70% interest. This decision is a crucial community alert, highlighting the regulatory body's commitment to holding developers accountable. For real estate buyers and investors in Hyderabad, this reinforces the protective mechanisms in place, offering a stronger sense of security against non-performing projects and promoting greater transparency in the market. It underscores that non-delivery will have consequences. In your opinion — is this positive or negative for buyers?
Comments
Finally! RERA is actually doing something. This is great news for us first-time buyers in Hyderabad, makes me feel a bit safer.
Haan, but is this only for Bharathi Builders? Ya sabke liye ek warning hai? Hope it sets a precedent.
Totally agree! RERA zindabad!