TS-RERA levies 1st penalty

Hyderabad: Telangana Real Estate Regulatory Authority (TS-RERA) has levied a penalty of Rs50 lakh on Jayathri Infrastructure (Jaya Group), AGS Srinivasam Properties Pvt Ltd and Engineers Association Pvt Ltd (EAPL).

The authority has imposed the fine on this group of companies for together advertising and marketing their upcoming project in Kollur without obtaining the RERA registration number.

The TS-RERA has earlier issued show cause notices to the three realtors seeking an explanation for not adhering the RERA registration procedure before marketing and selling their units in the project. However, they have failed to respond to the authority within the prescribed 15-day period.