Hyderabad: The Telangana Real Estate Regulatory Authority transferred the responsibility of completing the Jayathri Infrastructures’ ‘Jaya Platinum Project’ to the JP Welfare Association, after the company duped people with their pre-launch offers. The developer failed to deliver the project as promised by July 2022 citing vague reasons and financial mismanagement.The misuse of funds was revealed through an engineering inspection report …
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Telangana Real Estate Regulatory Authority bench, comprising Justice Dr. N. Satyanarayana, K. Srinivasa Rao, and Laxmi Narayana Jannu, directed M/s Jayathri Infrastructures India, the builder, to refund the amount paid by the Four homebuyers of Jaya Gold for their respective flats. Additionally, the Authority imposed a penalty of ₹9.78 Lakh on the builder for marketing, advertising, and selling the unregistered …