Penality order on M/s Srinivasam Developers

GOVERNMENT OF TELANGANA
TELANGANA REAL ESTATE REGULATORY AUTHORITY,
HYDERABAD
PENALTY ORDER
[Sec.59/60 of the RE (R&D) Act-2016]
No.04/08/2023/TSRERA, dt:19.09.2023
It has come to the notice of this Authority that the Promoter / Owner /
Developer viz M/s Srinivasam Developers, Advertised/ Marketed/booked and
offered for sale the flats in the said project at Devender Nagar colony,
Kompally, Medchal-Malkajgiri district, Telangana without registering the
project with TS RERA.
2.
Accordingly, the Authority has issued show notice U/s 59/60 of RE(R&D)
Act, 2016 vide No.08/08/2023/TSRERA, dt:19.08.2023 to M/s Srinivasam
Developers, Devender Nagar colony, Kompally, Medchal-Malkajgiri district,
Telangana, to reply as to why this Authority shall not levy the penalty under
section 59/60 of the RE(R&D) Act-2016. But till date they failed to submit any
explanation.
3.
Therefore, it is construed that M/s Srinivasam Developers, at Devender
Nagar colony, Kompally, Medchal-Malkajgiri district, Telangana, has
contravened section 3(1) & 4(1) of RE (R&D) Act, 2016, by Advertising/
marketing/selling units without registering the project with TS RERA
disobeying to the directions of the Authority and hence the developer is liable
for a penalty of Rs.3,00,000/- (Rupees Three lakhs) and directed to pay the
same in favour of TS RERA FUNDS through Demand Draft or online payment
to A/c No.50100595798191, HDFC Bank, IFSC code : HDFC0007036 under
section 59(1) of RE(R&D) Act, 2016 within 15 days from the date of receipt of
this notice, Failing which necessary steps will be taken under section 59(2) of
RE(R&D) Act, 2016.
Sd/SECRETARY,
TG RERA
To,
M/s Sri Nivasam, J.C. Constructions,
Builder, Sri.Shyamprasad, Devender Nagar colony,
Kompally, Medchal-Malkajgiri district, Telangana.