State panel orders Sahiti, Real Estate News, ET RealEstate

March 10, 2024

HYDERABAD: The State Consumer Commission has directed the scam-hit Sahiti Infratec Company to refund 54 lakh and 50 lakh which was collected from two home buyers for its proposed Ameenpur venture with 12% interest within a month.

The commission bench, comprising its in charge president Meena Ramanathan and judicial member VV Seshu Babu, also directed the real estate firm to pay a compensation of 3 lakh each to the two aggrieved home buyers.

The first buyer, K Kusuma from Nizampet, paid 54 lakh to Sahiti Infra towards the total cost of a flat at Sahiti Sarvani Elite Project at Ameenpur in Sangareddy district. She entered into a memorandum of understanding (MoU)with the firm on Feb 20, 2020 and paid the entire money.

The company promised that it would deliver possession of the flat within three years. But, later it failed to do so. It even stopped responding to the queries of the anxious home buyer.

Similarly, B Leela Vaishnavi and B Phani Santhosh are now waging a legal battle to recover 50 lakh they paid towards the cost of the flat at the same project.

The state commission directed the company to refund their money and also pay them 3 lakh compensation. The commission also slapped costs of 50,000 on the company and directed it to pay 25,000 to each of the buyers.

  • Published On Mar 10, 2024 at 01:00 PM IST

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