HYDERABAD: The Telangana Real Estate Regulatory Authority (TGRERA) imposed a penalty of Rs 15 lakh on Jayabheri Properties Private Limited for providing incorrect information about ongoing litigation concerning the land for its ‘The Pinnacle’ project.
The order was issued on Nov 4 by TGRERA led by retired IAS N Satyanarayana. TGRERA declined to revoke the project’s registration, as sought by complainants Mala Brij Kumar Bhaktani and Satyam Brij Kumar Bhaktani, but directed the developers to accurately upload details of all litigation related to the land on the TGRERA website.
The complainants claimed ownership of approximately 28 acres of land in Puppalaguda village in Gandipet mandal in Rangareddy District. They filed suits for a declaration of title, which is pending before the III additional district judge, Rangareddy, LB Nagar.
They alleged that Jayabheri Properties suppressed these litigation details when obtaining approvals from TGRERA and other authorities. The complainants argue that ongoing development and sales by the developers could infringe upon their rights and mislead prospective buyers into believing the property is litigation-free.
Jayabheri Properties contended that the complainants filed interim injunction applications, which the court has not granted, and argued that TGRERA lacks jurisdiction over the matter, given the civil dispute pending before the court.
The company maintained that it disclosed the litigation status in its legal opinion uploaded on the TGRERA website as per section 4 of the Act, which it argued met regulatory requirements.
TGRERA observed that the website specifically asks if there is any litigation on the project land, to which Jayabheri Properties incorrectly selected ‘no’ despite disclosing the litigation details in its legal opinion.
TGRERA held that this misrepresentation could mislead potential buyers and fail to meet the intent of the Act, which aims to provide transparency and easy access to information for prospective allottees.
TGRERA concluded that under section 60 of the Act, a penalty was warranted. It directed Jayabheri Properties to pay Rs 15 lakh within 30 days and to update the website within seven days to reflect the litigation status accurately.
Source Homevior.in
