Hyderabad: The Telangana Real Estate Regulatory Authority (TG RERA) has directed Jayathri Infrastructure Pvt. Ltd. to refund Rs 38 lakh to complainants who purchased property in its Western Waves project at Nanakramguda.
The complainants, M. Suresh, M. Dinesh and M. Ramesh, said they paid Jayathri Rs 38 lakh in 2021. They were allotted a commercial unit with a built-up area of 500 sq. ft., along with an undivided share of 11.5 sq. yds. in the project.
RERA noted that the Western Waves project was unregistered and that multiple complaints had been filed against the company in relation to it. The Authority also observed that Jayathri had failed to appear before the bench despite receiving multiple notices during the proceedings.
The authority held that the complainants were entitled to a refund of the full amount paid, with applicable interest. It directed Jayathri to refund Rs 38 lakh, along with interest at 10.85 per cent per annum, within 90 days of the order.
The Enforcement Directorate (ED) arrested Kakarla Srinivas, managing director of Jayathri Infrastructures, in 2025 in connection with an alleged Rs 300-crore pre-launch scam. The ED said multiple FIRs had been registered by Cyberabad police against Srinivas and Jayathri Infrastructure. Its investigation found that Srinivas had generated proceeds of crime amounting to Rs 61 crore.
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