Buildox fined for collecting flat booking amount without Telangana RERA approval

Dated on: Friday 15th November 2024

Buildox, a real estate firm, has been fined for collecting flat booking amounts without obtaining prior approval from the Telangana Real Estate Regulatory Authority (RERA). RERA regulations require developers to register their projects before accepting any payments from homebuyers. The fine serves as a reminder to developers about the importance of complying with RERA rules to ensure transparency and protect consumer interests in the real estate sector.