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The Telangana Real Estate Regulatory Authority (TGRERA) has directed a developer in LB Nagar to either register an unencumbered plot in the 'SV Golden City 5' project or refund INR 15.1 lakh, along with 11% annual interest, to buyer Purshottam Ketepally. Ketepally had booked a plot in October 2022 and made subsequent payments, but later discovered the plot was mortgaged. Despite assurances of an alternative plot and additional payments, the registration did not occur. TGRERA ruled in favor of the buyer, citing the builder's failure to fulfill commitments, and warned of penalties under Section 63 of the Real Estate (Regulation and Development) Act, 2016, for non-compliance.
In an important move for homebuyers in Hyderabad, the Telangana Real Estate Regulatory Authority (TGRERA) has ordered a developer from LB Nagar to either register a buyer's plot or refund his money with interest. The case involves the 'SV Golden City 5' housing project, where a complainant faced delays and issues when trying to register his plot. Advertisement
Purshottam Ketepally from Tarnaka booked a plot in the project in October 2022 by paying over one lakh rupees. He then signed a sale agreement and paid another INR 4 lakh by December the same year. However, after signing, he found out the plot was under mortgage, meaning it was legally tied up and could not be registered in his name immediately. Despite waiting half a year and paying an additional INR 10 lakh following the builder's promise to provide an alternate plot, the buyer was left waiting with no clear resolution.
The TGRERA acted on the complaint and found the developer at fault for failing to deliver an unencumbered plot and not following through on the promised alternative. Although the buyer could not prove availability of a clear plot, the authority ruled that fairness required the buyer to be protected since he had already paid a significant amount. The developer was given 30 days to register an unencumbered plot or refund the entire INR 15.1 lakh along with 11% annual interest from the payment dates.
This order highlights the importance of regulatory bodies in safeguarding property buyers' interests amid growing urban real estate developments. Many buyers face risks related to unclear documentation and project delays. The Real Estate (Regulation and Development) Act, 2016, under which TGRERA operates, aims to bring transparency and discipline to the booming market. Builders who fail to comply with regulations risk penalties including fines and possible legal actions under Section 63 of the law.
As Hyderabad's real estate market continues to expand rapidly, such rulings help build buyer confidence and serve as a warning to developers about the importance of timely and clear property transfers. Buyers are also encouraged to verify the legal titles of plots and insist on proper registration before making large payments. This case serves as a reminder that regulatory authorities in Telangana and across India play a key role in resolving disputes and ensuring accountability in the real estate sector.
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