Hyderabad, Aug. 28 -- Telangana Real Estate Regulatory Authority (TG RERA) has directed Hyderabad-based Vasavi Infracon to pay 10.7 per cent interest to buyers after it delayed the handover of flats in two of its projects.

According to a report by The Times of India, the action was taken after 82 complaints were filed against the construction firm. In its order dated August 25, the authority named Vasavi S Urban at Bachupally, developed by Vasavi Infracon LLP, and Vasavi Lake City West at Hafeezpet, developed by Vasavi Realtor LLP.

The authority rejected the company's claims that the COVID-19 pandemic and disputes had caused the delays. A complainant, Raghunath Biswal, stated that he had purchased Flat B10-1502 in Vasavi S Urban for Rs ...