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Propmyna Khabri
TG RERA Orders Ramky Estates to Refund ₹98 Lakh to Homebuyers
Ever worried about getting your dream home on time, or worse, receiving possession without a valid Occupancy Certificate? A recent alert from TG RERA addresses this directly. Ramky Estates and Farms Ltd. has been ordered to refund ₹98.05 lakh to homebuyers of Ramky One Symphony in Hyderabad. The authority ruled that providing fit-out possession without an Occupancy Certificate is not legal. This action underscores RERA's commitment to buyer protection. What does this development mean for real estate buyers in Hyderabad – is this good news or bad?
#Hyderabad#rera#legal#possession
Comments
I'm looking to buy in Ameerpet soon and this makes me so nervous. What are the absolute must-haves to check before signing anything? Besides OC, what else should I specifically ask the builder about to avoid such a situation? Is there a RERA checklist or something? I don't want to get stuck like these people.
One more thing, U5: look for projects that are already nearing completion or are ready-to-move. Yes, they might be slightly more expensive, but the risk of delays and OC issues is significantly lower. It's worth the peace of mind, especially for first-time buyers.
U5, also make sure the project has all necessary approvals like Commencement Certificate (CC) before construction starts. And a very important point: never pay the full amount until you receive the OC. Builders often pressure for full payment at possession, but that's risky without the OC. This case proves it.
Definitely check the RERA registration number of the project and the builder's track record on the RERA website. See if there are any ongoing complaints against them. Also, get a lawyer to review all documents, especially the Sale Agreement and the Occupancy Certificate clauses. Don't rely just on what the sales team tells you.
Hyderabad real estate market is booming, but such incidents definitely make us cautious. The prices are already high, and then you have to worry about these basic legalities. It's a double whammy for budget-conscious buyers like us. Hope RERA continues to be strict.
This whole OC issue gives me so much anxiety. My friend booked in a project near Alwal, got possession, but the builder kept delaying the OC for almost two years! They couldn't even sell it or get a proper home loan transfer. This RERA ruling is a relief to hear, but it shouldn't have to come to this. We put our life savings into these homes, and builders just take us for granted.
Good news? Bhai, I'm not so sure. ₹98 lakh refund is big, but it's AFTER the problem. What about preventing it? Aur yeh Ramky Estates, I heard unka track record pehle se hi doubtful hai. Has anyone checked their total projects? Mujhe toh lagta hai they have 0 projects completed on time. Am I wrong?
Haan, zero projects matlab they are basically new or have a very bad past that they want to hide. This is why due diligence is so important. I almost considered a Ramky project in Begumpet last year, glad I backed out after seeing their limited presence.
Exactly! Zero completed projects is a major concern. It means they're always in the 'under construction' phase, which is where all delays and issues happen. This RERA order confirms my fears about such builders. It's not just about getting a refund, it's about the mental stress and wasted time.
You're absolutely right, U2. I did some digging a while ago for a property in Attapur. Ramky Estates ka 'Total projects: 0' hi dikha raha tha on some sites. That's a huge red flag for any builder, especially for a first-time buyer like me. How can you trust someone with no completed projects?
Wow, this is actually good news for us first-time buyers! RERA is finally doing something concrete. Iss se builders ko darr lagega ab, ki sahi se kaam karna padega. No more fit-out possession without OC, this should be the standard everywhere.