India, May 29 -- The Telangana Real Estate Regulatory Authority (TGRERA) has imposed a penalty of Rs.14.9 lakh on the developer of the 'Aura Velimala Phase 1' project in Velimala, Sangareddy district, according to the order.

This comes after Bhuvanteza Infrastructures LLP, the developer, failed to register the project under the Real Estate (Regulation and Development) Act, 2016.

"Respondents are jointly and severally liable to pay a penalty of Rs.14.9 lakh towards violation of Sections 3 and 4 for non-registration of the Project Aura Velimala Phase 1," the order said.

The regulatory body also directed the developer and its partners to return the funds collected from 62 homebuyers, along with an annual interest of 11%.Also Read: Karnata...