Hyderabad: The Telangana Real Estate Regulatory Authority (TGRERA) has barred further sale, marketing, or registration of units at the Shrivari Brundavanam project in Bandlaguda Jagir, Gandipet mandal, following multiple complaints from allottees over construction delays.
TGRERA issued the cautionary notice after receiving grievances against developer Shrivari Constructions, which had entered into a joint development agreement with landowners to build 80 flats on a 50:50 sharing model.
According to sale agreements signed with individual allottees, possession was due between February 2023 and May 2024. However, despite substantial payments, the builder failed to complete construction or hand over units within the promised timeline, the authority said in a release on Thursday.
In interim orders aimed at protecting buyers’ interests, TGRERA has placed the project in abeyance and restrained the developer from any promotional or transactional activity until further notice. The Sub-Registrar of Gandipet has also been instructed not to register any sale agreements or deeds linked to the project.
The authority’s action comes amid rising concerns over incomplete real estate developments across Hyderabad’s outskirts.