Hyderabad, May 23 -- The Telangana State Real Estate Regulatory Authority (TGRERA) has imposed a penalty of Rs 14,91,958 on Bhuvanateja Infrastructure LLP for failing to complete and hand over flats on time as per the agreement with buyers.

The project, named 'Aara', located in Velimela village of Ramachandrapuram Mandal, Sangareddy district, was supposed to be delivered by December 2023.

However, as of June 19, 2024, only 20 percent of the construction was completed. Despite repeated complaints from 68 buyers, the company and its representatives did not take adequate action to complete the project.

The affected buyers reported financial strain due to the delay, as they were forced to pay rent for their current residences while simulta...