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Tuesday, June 18, 2024

TS-RERA levies penalties on actual property companies Specific Occasions

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TS-Actual Property Regulatory Authority (TS-RERA) has begun to crack down on recalcitrant actual property firms and has imposed fines starting from ₹50,000 to ₹5 lakh in the previous few days.

TS-RERA chairman N. Satyanarayana has knowledgeable in a press launch on Tuesday that Jayatri Infrastructure (Jaya Group) and AGS Srinivasam Properties Personal Restricted have been fined ₹50 lakh every for indulging in advertising and marketing and promoting in violation of the principles.

Equally, Suvarna Bhoomi Infra Builders Pvt. Ltd, Yellapur, Patancheru, Sangareddy has been levied a penalty of ₹25 lakh, DNS Infra firm, Suchitra circle, Qutbullapur street, Medchal-Malkajgiri has been levied a penalty of ₹36.50 lakh and Sri Nivasam Builders, Devender Nagar Colony, Kompally, Medchal-Malkajgiri district a penalty of ₹3 lakh.

The chairman cautioned the actual property companies from taking on advertising and marketing or promoting their respective initiatives earlier than taking the necessary registration from the regulatory authority. However, these companies had not solely taken up publicising their respective initiatives however had additionally disregarded the notices issued by TS-RERA searching for explanations for his or her act inside a fortnight.

Mr. Satyanarayana has suggested the actual property firms to behave with accountability and make themselves conscious of the TS-RERA provisions because the rights of the customers are protected underneath the Act, stated a press launch.

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