Penalty Order Complaint No. 24 of 2025

BEFORE TELANGANA REAL ESTATE REGULATORY AUTHORITY
[Under the Real Estate (Regulation and Development) Act, 2016]
Complaint No. 24/2025/TG RERA (Penalty Order)
Dated: 20th January, 2026
Quorum:

Dr. N. Satyanarayana, IAS (Retd.), Hon’ble Chairperson
Sri K. Srinivasa Rao, Hon’ble Member
Sri Laxmi Narayana Jannu, Hon’ble Member

ZRESTA Villa Owners Maintenance Mutually Aided Cooperative Society Ltd.
(Represented by its Secretary, Registered under Section 5 of
Mutually Aided Cooperative Societies Act, 1995
Vide Registration No. TS/RRD/MACS/2023-11/FOW&M
Having its offices at Club House, Zrestha Villas,
Door No. 10-67, Kokapet (V), Gandipet Mandal,
Ranga Reddy District, 500075)
… Complainant
Versus
1. M/s. Goldfish Abode Private Limited,
(Having its Registered office at7G,
7th Floor, Vaishnavi Cynosure,
Old Mumbai Highway,Hyderabad – 500032)
2. Sri Chandra Sekhar Vege
(Rep.by its Managing Director of M/s. Goldfish Abode Pvt. Ltd.,
S/o V.V Venkateshwar Rao, Aged about 43 years,
Occ: Business, Having its Registered office at
7G, 7th Floor, Vaishnavi Cynosure,
Old Mumbai Highway, Hyderabad, 5000322)
… Respondents
The above-numbered complaint No. 24 of 2025 was filed by the Complainant before
the Telangana Real Estate Regulatory Authority (hereinafter referred to as “the Authority”)
against the Respondents in respect of the project titled “Goldfish Zresta.” Upon adjudication
of the said complaint, this Authority, after examining the pleadings, documents, and material
placed on record, has passed orders dated:31.10.2025 in CC No.24/2025 holding that the
Respondents had advertised, marketed and sold villas in the said project without obtaining
mandatory registration, thereby violating the provisions of Sections 3 and 4 of the Real Estate
(Regulation and Development) Act, 2016 (hereinafter referred to as “the RE(R&D) Act,
2016”).

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The findings of the Authority vide orders dated:31.10.2025 in CC No.24/2025 as

follows:
“ The Complainants have submitted that Respondent No. 2,
representing the real estate business of the Respondents, approached the
allottees of the concerned project and assured them of the superior
quality, timely completion, and credibility of their proposed development
projects. Specifically, the Respondents represented that the project titled
“Goldfish Zresta”, comprising 42 villas (Ground + 2 Upper Floors),
would be completed within the stipulated period along with all promised
amenities. The Hyderabad Metropolitan Development Authority (HMDA)
granted development permission for the said project vide Letter No.
104623/GHSLO/ORRGC/Plg/HMDA/2013 dated 21.02.2015. Relying on
such representations, the allottees who hold registered Sale Deeds and/or
Agreements of Sale proceeded to take possession of their respective villas.
It is alleged that despite having received the entire sale consideration,
the Respondents failed to complete the project in all respects or obtain the
requisite Completion Certificate or Occupancy Certificate from HMDA.
Several villas, along with common amenities and infrastructure facilities,
remain incomplete well beyond the originally stipulated completion
period of 2018. It is further submitted that the Respondents proceeded to
sell and hand over possession to the allottees, relying merely on the
subsisting HMDA approval as of 01.01.2017, thereby acting in
contravention of both statutory and contractual obligations. Even as per
G.O.Ms.No. 276, Municipal Administration and Urban Development
Department, dated 02.07.2010 whereunder the permissible period for
layout completion was extended by three years the Respondents were
required to complete the project and obtain necessary approvals by
21.02.2018, which they have admittedly failed to do.
Under Section 3(1) of the Real Estate (Regulation and Development)
Act, 2016, any project exceeding eight units or 500 square meters that has
not received a Completion Certificate or Occupancy Certificate as on the
date of commencement of the Act is deemed an “ongoing project” and
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When read conjointly with Rule 2(1)(j) of the Telangana Real Estate
(Regulation and Development) Rules, 2017, which defines an “ongoing
project” as one where “development is in progress and for which the
Occupancy Certificate or Completion Certificate has not been issued as
on the date of coming into force of the RE(R&D) Act,” it becomes
manifestly clear that the Goldfish Zresta project squarely falls within the
ambit of an ongoing project.
The Respondents own conduct corroborates this position. They
approached HMDA and obtained revalidation of the earlier permission
vide

Letter

No.

104623/GHSLO/ORRGC/Plg/HMDA/2013

dated

15.04.2023, extending the validity of the development permission up to
31.03.2025. This clearly indicates that the project remains incomplete and
continues to be under development.
In view of the foregoing, this Authority finds that the project “Goldfish
Zresta” qualifies as an ongoing project under Section 3(1) of the
RE(R&D) Act, 2016. The Respondents, having executed Agreements of
Sale and Sale Deeds as late as 2021, and having failed to obtain an
Occupancy Certificate while simultaneously obtaining revalidation from
the competent authority, were mandatorily required to register the project
with this Authority. Their failure to do so constitutes a clear violation of
Section 3 of the RE(R&D) Act, 2016”.
Directions of the Authority:
In light of the foregoing observations and findings, and in exercise of the powers conferred
under Sections 35, 37 and 38 of the RE(R&D) Act, 2016, this Authority hereby issues the
following directions:
a) For violation of the provisions of Sections 3 and 4 of the RE(R&D) Act, 2016, on
account of non-registration of the project “Goldfish Zresta,” the Respondent is held
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Sd/Sri. K. Srinivas Rao,
Hon’ble Member
TG RERA

Sd/Sri. Laxmi Narayana Jannu,
Hon’ble Member
TG RERA

Sd/Dr. N. Satyanarayana, IAS (Retd.),
Hon’ble Chairperson
TG RERA

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