+
Buildox Fined for Unapproved Flat Booking
Real Estate

Buildox Fined for Unapproved Flat Booking

Buildox, a real estate developer in Telangana, has been fined for collecting booking amounts for flats without obtaining the necessary approval from the Telangana Real Estate Regulatory Authority (RERA). The developer’s actions were deemed a violation of RERA guidelines, which require all real estate projects to be registered before any bookings or advance payments can be made.

The fine imposed highlights the importance of compliance with the regulatory framework governing real estate transactions in the state. Under RERA, builders and developers are obligated to ensure that their projects are registered and meet all statutory requirements before engaging in any sales or bookings. The penalty aims to uphold the integrity of the real estate market and protect consumers from potential fraud or unregulated developments.

This incident serves as a reminder to real estate developers to adhere strictly to RERA regulations, which are designed to bring transparency, accountability, and consumer protection to the sector. For prospective buyers, it emphasizes the need to ensure that any flat booking or purchase is made only after proper RERA approval is in place, ensuring that their investment is safe and legally compliant.

RERA has become a crucial mechanism in regulating the real estate sector across India, and such fines reinforce the need for developers to follow due process and maintain trust with consumers. The case against Buildox demonstrates the authority's commitment to enforcing these rules and safeguarding the interests of homebuyers in the state.

Buildox, a real estate developer in Telangana, has been fined for collecting booking amounts for flats without obtaining the necessary approval from the Telangana Real Estate Regulatory Authority (RERA). The developer’s actions were deemed a violation of RERA guidelines, which require all real estate projects to be registered before any bookings or advance payments can be made. The fine imposed highlights the importance of compliance with the regulatory framework governing real estate transactions in the state. Under RERA, builders and developers are obligated to ensure that their projects are registered and meet all statutory requirements before engaging in any sales or bookings. The penalty aims to uphold the integrity of the real estate market and protect consumers from potential fraud or unregulated developments. This incident serves as a reminder to real estate developers to adhere strictly to RERA regulations, which are designed to bring transparency, accountability, and consumer protection to the sector. For prospective buyers, it emphasizes the need to ensure that any flat booking or purchase is made only after proper RERA approval is in place, ensuring that their investment is safe and legally compliant. RERA has become a crucial mechanism in regulating the real estate sector across India, and such fines reinforce the need for developers to follow due process and maintain trust with consumers. The case against Buildox demonstrates the authority's commitment to enforcing these rules and safeguarding the interests of homebuyers in the state.

Next Story
Infrastructure Urban

Uttar Pradesh Opens First Bio-CNG Plant at Naini

In a major step towards sustainable waste management and environmental conservation, Uttar Pradesh inaugurated its first bio-CNG plant at Arail in Naini on Wednesday.On its opening day, the Prayagraj Municipal Corporation delivered approximately 20 tonnes of organic wet waste—mainly from kitchens and restaurants—for processing, officials said.Project head Himanshu Srivastava noted that in the coming weeks, the state’s first such plant will handle up to 100 tonnes of organic waste daily. All wet waste generated in Prayagraj will now be directed here, ensuring efficient processing and reso..

Next Story
Infrastructure Transport

Gujarat CM Reviews Rs 117 Billion Projects in Tourism and Infrastructure

Gujarat Chief Minister Bhupendra Patel reviewed 12 development projects worth Rs 117.35 billion, focusing on tourism, metro rail, and industrial infrastructure.The review included Rs 41.84 billion allocated to tourism initiatives such as the holistic development of Ambaji, restoration of the Mahakali Mata Temple in Pavagadh, mangrove and creek conservation along the coast, and transforming Mokarsagar in Porbandar into a tourism hub. Projects assessed also covered the Dwarka Corridor, enhancements of Shivrajpur and Somnath beaches, and new tourist facilities at Kantharpur Mahakali Vad and Dharo..

Next Story
Infrastructure Urban

Nimtala Ghat in Calcutta Set for Heritage Renovation and Beautification

Nimtala Ghat — one of Calcutta’s oldest ghats on the banks of the Hooghly River — will undergo renovation and beautification.Calcutta Port signed a memorandum of understanding (MoU) with city-based real estate group PS on Wednesday to carry out the project. The initiative includes repairing the steps of the ghat, which sees thousands of Durga idols immersed during Puja, relaying pathways, installing proper lighting, and landscaping the surrounding area, senior officials said.“A French company will oversee the plan to revamp the ghat while respecting its heritage,” said Saurav Dugar, ..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?