SOURCE :- SIASAT NEWS
Hyderabad: Tension prevailed in Bachupally on Saturday, November 14, as homebuyers at Vasavi Urban protested alleged prolonged construction delays and failure to pay compensation despite a Telangana Real Estate Regulatory Authority (TG RERA) order.
Chanting “We Want Justice,” they sat in front of the apartments, blocking the traffic, demanding the builder complete construction on time.
According to local reports, several flats were booked at Vasavi Urban in 2021, with the promise that the handover would take place by December 2024. The builder has collected nearly 90 per cent of the cost, but the construction has been extremely slow.
Many buyers are facing severe financial difficulties. One buyer purchased the flat in 2021. He alleges that the Vasavi Urban management has revised the handover commitments eight times since 2024, citing construction issues.
Another said he had booked a flat in August 2023 and signed an agreement in December of the same year. He was also given the same promise, but the handover is still pending. “I am paying pre-EMIs on my housing loan despite not receiving possession,” he said.
Echoing their statements, a third person said that several like him are forced to pay rent and housing loan EMIs simultaneously.
On November 12, some flat buyers approached TG RERA officials, showing them documents including the six-month grace period, which expired on June 26, 2025. They sought interest on the Rs 40.40 lakh paid towards the flat for every month from June 27, 2025, until actual possession, and speedy completion of the flats.
RERA ordered the builder to pay the required compensation. However, the money was not paid, forcing the flat buyers to take to the streets to protest.
Protestors said that the management of Vasavi Urban is unresponsive, and some officials asked them to approach the individuals who had collected their payments.
The protesters said the management had not responded to their concerns. They said that they would intensify their stir, including by launching an indefinite hunger strike, if their demands are not met.
The Vasavi Urban project comprises around 3,700 flats.
SOURCE : SIASAT
