TGRERA Cracks Down on Unregistered Agents in Kokapet Tech Park Misrepresentation Case

The Telangana Real Estate Regulatory Authority (TGRERA) has taken action against three individuals and their associated firms for illegally acting as property agents and misrepresenting themselves in a prominent commercial real estate project at Kokapet.

Builder Alleges Fraudulent Marketing

The complaint was filed by Viana Homes, the developer of the RERA-registered Poojitha Tech Park. According to the builder, a person named Sikha Balaraju had approached them in 2022, claiming to have buyers interested in acquiring office spaces in the tech park. Although preliminary discussions took place, no formal agreement was ever signed between the parties.

Despite this, Balaraju, along with his companies Infy Projects and Bell Square, allegedly proceeded to collect funds from prospective buyers and falsely positioned themselves as official marketing representatives for the project.

RERA Findings and Penalty

After a series of hearings, the regulatory authority concluded that Balaraju and his firms were operating as real estate agents without securing the mandatory registration under the Real Estate (Regulation and Development) Act, 2016. This non-compliance with the RERA provisions was deemed a serious violation.

As a result, TGRERA imposed a penalty of ₹3.69 lakh on the parties involved and barred them from conducting any real estate-related transactions in RERA-registered projects unless properly registered with the Authority in the future.

The case underlines the critical importance of agent registration and the risks buyers and developers face when dealing with unauthorised intermediaries.

Disclaimer: This news article is for informational purposes only. Readers are advised to verify details independently before making any property-related decisions.