TG-RERA Fines Myron Homes For Flouting RERA Rules

Hyderabad: Telangana Real Estate Regulatory Authority (TG-RERA) imposed a penalty of Rs 1.14 billion on Myron Homes for advertising and marketing a commercial project without mandatory registration under the Real Estate (Regulation and Development) Act, 2016. In an order issued on June 9, the official found that the company had promoted Myron Mall, a proposed commercial project at Bachupally in Medchal-Malkajgiri district, without prior registration. sales or marketing activity.

TG-RERA ruled that even proposed projects cannot be advertised without registration and directed the company to pay Rs 1,14,00,932 within 30 days. The company was also prohibited from advertising, selling or marketing any project without prior approval.

The authority initiated suo motu proceedings based on information from multiple sources. During verification, it was found that no project named “Myron Mall” has been registered and no application has been made for registration. RERA reviewed a public promotional brochure containing floor plans, commercial layouts, features, amenities and indicative prices and concluded that the material was intended to attract buyers and investors.

Myron Homes denied the allegations, stating that it had not initiated or proposed a project under the name “Myron Mall”. The company said only that it was exploring development possibilities and awaiting approvals and declined to create or distribute promotional material.

The authority ruled that the company failed to provide evidence that the brochures were created or distributed without its knowledge. He noted that no police complaint, public notice or legal action has been taken by the company regarding the alleged unauthorized use of his name.