SOURCE :- SIASAT NEWS
Hyderabad: Telangana Real Estate Regulatory Authority (TG RERA) has directed a real estate consultancy firm to refund Rs 42.2 lakh to two Hyderabad plot buyers within 60 days.
The order was issued on August 17 by TG RERA members K Srinivasa Rao and Laxmi Narayana Jannu.
Hyderabad plot buyers seek refund after deal
It all started in May 2022 when V Praveen Krishna and V Manjula Praveen Krishna approached the consultancy firm after coming across advertisements for Sree Rugveda Brundavanam Hills.
They decided to purchase plots 229 and 230 and paid Rs 52.2 lakh by June 7, 2022.
Later, the consultancy firm asked the buyers for another Rs 10 lakh. The firm claimed that the size of plot 230 stood at 377.7 square yards instead of 277.7 square yards.
Following it, the buyers decided to cancel the booking and sought their money back.
Though Rs 10 lakh was returned, cheques for the remaining Rs 42.2 lakh were issued; however, they were dishonoured.
Role of consultancy firm
During the proceedings, the developer said plots 229 and 230 had not been sold to the consultancy firm.
The developer also stated that it had neither received money from the two buyers nor given the consultancy firm permission to act as its agent.
The authority held the firm responsible for violating Section 10 of the Real Estate (Regulation and Development) Act.
Based on the evidence, the consultancy firm has been directed to return Rs 42.2 lakh, along with 10.7 per cent interest, calculated from June 7, 2022.
TG RERA has further directed its secretary to start penalty proceedings under Sections 59 and 62 of the Act against the developer and the consultancy firm, respectively.
SOURCE : SIASAT
