Delayed construction in non-RERA complaint project: Homebuyers to get refund with 11% interest from builde

Telangana RERA orders 11% interest for delayed projects - The Telangana Real Estate Regulatory Authority (TGRERA) has ordered a Hyderabad-based builder to refund 62 homebuyers with 11% interest per annum for significant delays in an unregistered project. The builder, M/s Bhuvanteza Infrastructures LLP, was found to have violated Sections 3 and 4 of the RERA Act by marketing and selling units without proper registration and diverting funds, leading to the project being only 20% complete after three years. The ruling emphasizes TGRERA's commitment to enforcing compliance and protecting homebuyer rights, especially in non-RERA compliant projects.