TGRERA orders refund, 10 pc interest for Kompally flat buyers
Hyderabad, Aug. 28 -- Homebuyers who paid for flats in a stalled Kompally apartment project have been handed a big win, with the state's real estate regulator ordering a full refund with more than 10 percent interest and holding not just the original builder but everyone who came after it liable for the money.
The Telangana Real Estate Regulatory Authority (TGRERA) has directed a realty firm and three other parties connected to Bharathi's Lake View apartments in Kompally to return every rupee paid by 12 homebuyers, along with 10.7 percent annual interest, after concluding the project never got off the ground despite payments collected as far back as 2021, reported The Times of India.
In two common orders covering all 12 complaints, pass...
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