Hyderabad, June 26 -- The Telangana Real Estate Regulatory Authority (TGRERA) on Thursday, June 25, imposed a fine of Rs 14.95 lakh on a Hyderabad construction firm for 'illegally' collecting money before obtaining mandatory RERA registration.

The authority also said that the firm, R Homes failed to make significant progress on the project.

Buyer misled through offers

RERA imposed the penalty after a complainant said that he was misled by the company's pre-launch offer, assurance from the representatives of the firm. The complainant stated that R Homes convinced him that the project was approved by RERA.

According to RERA, the complainant paid Rs 14.95 lakh from December 2020 to February 2021 for the proposed apartment.

TG RERA held ...