TSRERA Penalizes TMR Infra Tech for RERA Violation in TMR Marvel Villas Project

TSRERA's Instructions for Project Completion

The Telangana State Real Estate Regulatory Authority (TSRERA) has recently levied a penalty of Rs 19.80 lakh on TMR Infra Tech, the developer behind the TMR Marvel Villas project located in Macha Bollaram near Alwal. This penalty was imposed due to the builder’s failure to comply with the Real Estate (Regulation and Development) Act, 2016 (RERA), specifically for collecting advance payments from customers before the project’s registration with the authority.

The TSRERA found that TMR Infra Tech began accepting advance payments from prospective buyers as early as February 5, 2018, to March 6, 2018, well before the necessary RERA registration was obtained on October 5, 2019. The authority stated that this sequence of events directly violated Section 3 of the RERA Act, which mandates that no real estate project can solicit advance payments from customers unless it is registered with the authority.

The TSRERA order emphasized that the builder’s actions undermined the protections put in place for homebuyers under RERA, which aims to ensure transparency and accountability in the real estate sector. The authority further stated that such violations not only affect the customers but also damage the integrity of the real estate sector as a whole.

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Future Outlook for TMR Infra Tech and RERA Compliance

For TMR Infra Tech, the penalty serves as a significant reminder of the need for full compliance with RERA’s rules and regulations. The developer must now focus on completing the TMR Marvel Villas project within the stipulated time and fulfill all promises made to the buyers. The builder’s future in the market could depend on how effectively they complete this project and maintain transparency with customers.

As for future real estate projects in Telangana, developers must be increasingly cautious about their actions regarding RERA registration and customer payments. TSRERA’s active involvement in monitoring real estate practices ensures that the rights of homebuyers are protected and that builders uphold their legal obligations.

The TSRERA’s actions against TMR Infra Tech underscore the importance of RERA in regulating the real estate market and protecting consumer interests. With the real estate sector evolving, builders must stay committed to fulfilling their obligations to buyers and adhere strictly to the provisions of the RERA Act to avoid penalties and reputational damage.