The Telangana Real Estate Regulatory Authority (TGRERA) has issued a stern public caution against M/s Krithika Infra Developers Private Limited and M/s Krithika Infra Developers for allegedly marketing and selling plots in an unregistered project titled “Sheshadri’s Silver Oak” located in Boduppal Village, Medipally Mandal, Medchal-Malkajgiri District, Telangana.
According to TGRERA officials, numerous complaints have been received from homebuyers who entered into Agreements of Sale with the aforementioned developers, represented by Managing Directors D Srikanth and Shashikanth, sons of D Gopal and Radha Bukya. Buyers claim they have paid either full or partial amounts for plots in the project, which has now come under scrutiny for serious regulatory violations.
Project Not Registered with TG RERA
Upon investigation, the regulatory authority found that the “Sheshadri’s Silver Oak” project was never registered with TG RERA, and no application had been submitted for its registration. Furthermore, the developers have failed to obtain mandatory building and layout permissions from competent authorities such as HMDA and GHMC, thus violating core requirements under the Real Estate (Regulation and Development) Act, 2016.
Heavy Penalty Imposed
In response to these violations, TGRERA imposed a penalty of ₹7,99,62,500 on M/s Krithika Infra Developers Pvt. Ltd. for engaging in unauthorized marketing and advertising, breaching Section 3 of the RERA Act.
As per Section 13(1) of the Act, a promoter cannot accept more than 10% of the property cost from a buyer without first entering into a registered agreement for sale. However, the developers collected excessive payments from several allottees without executing or registering any formal agreements, thereby breaching the Act and deceiving the public.
Public Advisory and Legal Action
TGRERA has strictly advised the public to refrain from entering into any real estate transactions with the above-mentioned developers or purchasing plots in the Sheshadri’s Silver Oak project. Officials emphasized that the developers have cheated and misled buyers, collecting substantial funds without fulfilling legal obligations, and violating consumer trust.
This warning serves as a strong reminder to potential property buyers to verify project registration with RERA and ensure all legal compliances are met before investing in any real estate development and do not purchase Unregistered Real Estate Project.
