Delayed construction in non-RERA complaint project: Homebuyers to get refund with 11% interest from builder as per Telangana RERA order

A Hyderabad builder, lacking RERA registration, allegedly misused funds from 62 homebuyers by diverting them to other projects, leading to significant construction delays while homebuyers were paying the home loan EMI. Telangana RERA intervened, finding the project only 20% complete after three years and ordering the builder to refund the homebuyers with 11% interest due to Section 3 & 4 violations and lack of commitment. Read more.