Hyderabad:Telangana Real Estate Regulatory Authority (TG RERA) warns the public not to purchase plots from Krithika Infra developer PVT. Co., Ltd. and Krithika Infra developers claimed that they were cheated by the company in multiple complaints from buyers.
Several buyers said they paid in full or part of the funds in a project called “Sheshadri’s Silver Oak” in Boduppal, Malkajgiri district. However, it is said that the developer failed to register the deed of sales in the buyer’s name even after payment was collected.
During the investigation, TG RERA found that the project was not registered with the Authority, which violated the Real Estate Regulation and Development Act (RERA) Act of 2016. Under the bill, no builder can promote or sell real estate projects without registering with RERA. Developers have not yet obtained the necessary permissions from local institutions such as HMDA or GHMC to draw or develop.
Rera imposed a fine of Rs 2.96 lakh on the company for illegal advertising and selling land. Authorities further noted that the company collected more than 10% of the plot costs from buyers without implementing an appropriate sales agreement, which is also illegal under the bill.
Rera said developers have clearly misled innocent buyers by collecting large amounts of money without fulfiling their legal obligations. The public is strictly advised not to purchase land or enter into any agreement with these companies. Those who have paid are urged to report the matter and seek legal recourse.
