+
TS RERA slaps Rs 175 mn penalty on three real estate firms
Real Estate

TS RERA slaps Rs 175 mn penalty on three real estate firms

The Telangana State Real Estate Regulatory Authority (TS RERA) has fined three real estate companies approximately Rs 175 million for their failure to adhere to the RERA Act.

Among the list of violators are Mantri Developers, headquartered in Bengaluru, Sahiti Infratec Ventures, based in the same city and currently under investigation by the Enforcement Directorate (ED) for suspected fund misappropriation, and Sai Surya Developers, also located in Hyderabad.

N Satyanarayana, the chairman of TS RERA, issued a statement on Friday, explaining that these penalties were levied following a thorough evaluation of each builder's actions. This assessment considered the breaches of the 2016 Act and its associated regulations, stemming from failures to meet project completion deadlines and various other discrepancies discovered during the investigation.

The Telangana State Real Estate Regulatory Authority (TS RERA) has fined three real estate companies approximately Rs 175 million for their failure to adhere to the RERA Act. Among the list of violators are Mantri Developers, headquartered in Bengaluru, Sahiti Infratec Ventures, based in the same city and currently under investigation by the Enforcement Directorate (ED) for suspected fund misappropriation, and Sai Surya Developers, also located in Hyderabad. N Satyanarayana, the chairman of TS RERA, issued a statement on Friday, explaining that these penalties were levied following a thorough evaluation of each builder's actions. This assessment considered the breaches of the 2016 Act and its associated regulations, stemming from failures to meet project completion deadlines and various other discrepancies discovered during the investigation.

Related Stories

Gold Stories

Next Story
Infrastructure Urban

Infrastructure Opportunity Outlook by IMPACCT.Info

India’s infrastructure pipeline is witnessing dynamic activity across stages — from immediate bidding to future planning. IMPACCT segments these into three categories: Immediate, 3–6 Month, and Future Opportunities, enabling businesses to identify, prepare, and participate in high-value tenders and projects across sectors.To read full article Click Here ..

Next Story
Real Estate

Glass, Reframed!

Glass façades, quintessential aesthetic building envelopes globally, have been widely adopted in India as well. But when the focus is high-performance building systems that deliver energy efficiency, comfort and architectural identity, glass isn’t the only preference. Combination solutions, involving glass and some other material, improve façade outcomes. Some combinations come at comparable prices, some at a higher price. Here is a selection of performance-oriented solutions...To read the full story Click Here ..

Next Story
Infrastructure Urban

Beyond Building Faster

India’s cities are expanding at an unprecedented pace, bringing new infrastructure and development opportunities while also intensifying challenges around mobility, public spaces, liveability and supporting infrastructure. The question, therefore, is not simply whether India can build faster, but whether it can build cities that work better.At a CW webinar, Are We Designing Better Cities – or Just Building Faster?, moderator Ar. Samir Shaikh, Founding Principal, AR&UD Studio, brought together perspectives from design, development, master planning and technology...To read the full artic..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code