Hyderabad, July 15 -- The Telangana Real Estate Regulatory Authority (TG RERA) has directed Ramky Estates and Farms Ltd. to refund Rs 98.05 lakh to homebuyers as the developer failed to hand over an apartment before the deadline.

It ruled that fit-out possession without an Occupancy Certificate (OC) cannot be treated as legal possession.

Hyderabad buyers sought refund after project delay

The complaint was filed by K Sravanthi and K Bhanu Prakash who booked a 1,585 sq. ft. apartment in Ramky One Symphony at Patancheru. The agreement was signed on July 26, 2022.

The apartment was purchased for Rs 1.03 crore and the buyers had already paid Rs 98.05 lakh.

As per the agreement, the builder had promised to hand over possession by September...