Hyderabad: The Telangana Real Estate Regulatory Authority (TGRERA) on Wednesday cautioned and strictly advised not to enter into any transactions or purchase any plot in the real estate projects purported to be promoted by M/s Krithika Infra Developers Private Limited and M/s Krithika Infra Developers.

According to the RERA officials, several complaints were registered against the promoters/developers, namely M/s Krithika Infra Developers Private Limited and Ms Krithika Infra Developers, represented by their Managing Directors D Srikanth and Shashikanth, sons of D Gopal and Radha Bukya. The complainants have stated that they entered into Agreements of Sale with the aforementioned entities for the purchase of plots in the project titled “Sheshadri’s Silver Oak”, situated in Survey No. 215 of Boduppal Village, Medipally Mandal, Medchal-Malkajgiri District, and have paid either full or part consideration amounts towards the sale of the said plots.

According to RERA officials, it was observed that the project ‘Sheshadri’s Silver Oak’ situated at Boduppal Village, Medipally Mandal, Medchal-Malkajgiri District is not registered with TG RERA and no application was submitted by the promoters for registration of the said project under the provisions of the Act. They have not obtained requisite building permissions and layout permissions from local competent authorities like HMDA and GHMC.

The RERA imposed a penalty of Rs 7,99,6250 on Ms Krithika Infrastructure Private Limited for engaging in marketing and advertising activities in violation of Section 3 of the Real Estate (Regulation and Development) Act, 2016. In terms of Section 13(1) of the Act which says, “A promoter shall not accept a sum more than ten per cent of the cost of the apartment, plot, or building, as the case may be as an advance payment or an application fee, from a person without first entering into a written agreement for sale with sach person and registering the said agreement for sale under any law for the time being in force.” Contrary to the above provision, M/s Krithika Infra Developers Pvt. Ltd. and M/s Krithika Infra Developers have collected amounts exceeding the prescribed limit from allottees without executing and registering any written agreement for sale. It is evident that the said entities have fraudulently collected substantial amounts from the general public without fulfilling their legal obligations, thereby cheating and misleading innocent allottees.