The Telangana Real Estate Regulatory Authority (TGRERA) has imposed a combined Rs 17.67 lakh penalty on AV Infracon Pvt. Ltd. for marketing, booking and selling units in two projects without mandatory RERA registration, after the developer allegedly collected the entire sale consideration from buyers.
The two AV projects which came under scrutiny are:
Rs 14.84 lakh penalty over AV’s West Heights project
After processing the complaint, TGRERA imposed a Rs 14.84 lakh penalty on AV Infracon in connection with its AV’s West Heights project.
According to the authority, the developer had accepted advance payments, entered into an agreement of sale, marketed and booked a unit and collected the full sale consideration without obtaining the mandatory registration under Section 3(1) of the Real Estate (Regulation and Development) Act, 2016.
