What’s the update on notices issued to 20 firms?
How much money has been collected from Kesineni Developers?
When will they impose a fine on Imagine Villas?
No action on Cybercity and Incor?
It seems like builders in Hyderabad are not afraid of TS RERA. The then-BRS government set up this organisation. According to the instructions of then Union Minister Venkaiah Naidu, an office was set up at Masabtank. When former senior IAS officer Rajeshwar Tiwari was taking care of RERA, the situation was normal, but now it has gone out of control.
People who do not even know the difference between a square foot and a yard have entered the construction industry. Lands were taken anywhere and everywhere by paying advances, and pre-launches started. Those who bought in pre-launches are still facing the heat. Why did TS RERA fail to control pre-launches? Why do builders not fear TS-RERA?
As long as former CS Somesh Kumar was the chairman of TS RERA, no one cared about RERA. As a result, the rush of pre-launches has completely polluted the Hyderabad real estate market. The disturbing thing is that the builders who grabbed the land in Kokapet auctions used to make pre-launches and pay the money to HMDA. As the government did not object to it, many builders started doing pre-launches. The situation of not being a builder if you don’t do the actual pre-launch has been created in the market because of BRS. Even after Congress came into power, the situation has not changed much. Do you know why? The main reason for this is the appointment of a retired IAS officer as RERA Chairman. If only a young officer had been appointed, aspiring home buyers in Hyderabad would have had some reassurance.
What happened to the Rs 17.50 crore fine?
It is being heard that the chairman of TS RERA is behaving in such a way that they will function only if the buyers complain. It is turning a blind eye to companies taking crores of rupees from buyers in the name of pre-launches and expressions of interest. In response to some articles appearing in the newspapers, they have sent some notices to the respective organisations, but there are no records of collecting fines from the builders. Bengaluru-based Prestige Group is running a pre-launch campaign only in Hyderabad. No matter how many hundreds of flats were sold in the name of EoI in the last five years, TS RERA acted as if they did know about it, and no fine was collected. In the past, it has announced that it has imposed a fine of around Rs 17.50 crore on companies like Kesineni Developers, Sahithi, Mantri Developers, and Sai Surya Developers. But it is noteworthy that no announcement was made about the amount collected as a fine.
Friendship with builders?
There are reports that the chairman of TS RERA did not take much action against the pre-launch builders because of his good friendship with many construction societies. It knows that Hyderabad-based Cybercity Developers and Incor Group are doing pre-launches, but no action has been taken against those companies so far. Dream Valley Company is illegally constructing Imagine Villas in Bakaram, which is in the in the GO 111 area, but no notice has been given till now. Even though Bakaram Panchayat Secretary Rangareddy wrote a letter to the District Collector stating that Dream Valley Villas are being constructed in the restricted area, TS RERA did not respond. RERA builders are questioning if a developer is illegally constructing villas on land prohibited by the government without TS RERA permission. Is RERA chairman Dr. Satyanarayana simply watching the whole situation like a movie? If this is the case, what is the difference between illegal structures and RERA buildings? Retired IAS officer Dr. N Satyanarayana should streamline the prelaunch builders, at least now.
