TG RERA Orders ₹79 Lakh Refund, ₹1.03 Crore Penalty on Abhi’s Aloha

TG RERA has ordered the respondent in the Abhi’s Aloha project case to refund ₹79 lakh to the complainant with 10.70% annual interest, payable within 40 days from the order.

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PROPERTY PULSE: The Telangana Real Estate Regulatory Authority (TG RERA) has directed the respondent in a complaint related to the “Abhi’s Aloha” project to refund ₹79 lakh to the complainant, along with interest at 10.70% per annum. The Authority ordered that the refund, calculated from the date of the Agreement of Sale dated February 5, 2024, until the actual date of payment, must be made within 40 days.

TG RERA also imposed a penalty of ₹1,03,44,189 on Respondent No. 1 for allegedly marketing and selling plots and villas in the “Abhi’s Aloha” project without registering it, in violation of Section 3(1) of the Real Estate (Regulation and Development) Act, 2016. The Authority further restrained the respondent from advertising, marketing, booking, selling, offering for sale or inviting buyers for any unit in the project, either directly or indirectly.

TG RERA warned that failure to comply with the directions would attract further penalties under Section 63 of the Act. The order was issued under Sections 37 and 38 of the RERA Act and the Telangana RERA Rules, 2017. The complaint was disposed of accordingly, with no order as to costs.