Haryana Rera asks Mahira Homes to deposit deficit funds in the regulator’s accounts
In a recent development, the Haryana Real Estate Regulatory Authority (H-Rera) has taken a strict stance against Mahira Homes, the promoter of affordable housing projects, by demanding that the deficit amounts be deposited in the regulator’s accounts. Failure to comply with this directive could result in the revocation of the authority’s registration to all of Mahira Homes’ projects and even an FIR against the developer. H-Rera chairman Arun Kumar has put forth a three-step action plan to address the delayed affordable housing projects of the developer and provide relief to the affected homebuyers. In a meeting with homebuyers, Kumar stated that the regulator has initiated the process for revoking the Rera registration of all five projects of Mahira Homes due to the developer’s failure in completing the projects and delivering the units to allottees in accordance with the affordable housing policy of the state government. According to sources within the authority, Mahira Homes has withdrawn approximately Rs 400 crore from the Rera escrow account, which is a violation of the prescribed norms.
Kumar has demanded that the developer deposit the diverted funds in order to prevent the freezing of its accounts. He further emphasized that an FIR was previously registered against the developer based on Rera complaints and warned that similar action will be taken again if the directive of the regulator is not followed. To expedite the completion of the stalled projects, the authority has engaged an agency to conduct a techno-economic feasibility study. This study aims to produce a comprehensive action plan for completing the projects as soon as possible.
As part of its efforts to address the grievances of homebuyers, the authority organized a meeting where over 100 homebuyers from the five projects of Mahira Homes had the opportunity to directly communicate with the H-Rera chairman and three other members of the authority. The primary objective of this meeting was to listen to the homebuyers’ grievances and find a resolution in accordance with the provisions of the Rera Act.
Representatives from all five projects in sectors 63A, 68, 95, 103, and 104 actively participated in the meeting. In addition, the Rera chairman conducted an inspection of all five stalled Mahira project sites to assess the ground reality. During the meeting, allottees of the Mahira project in Sector 68 voiced their concerns about the incomplete construction, stating that only 60-70% of the project has been completed. They have urged Rera to intervene to ensure the delivery of their units. Allottees from other projects with significant construction delays also demanded a roadmap from the authority for completing the projects. This development showcases the commitment of H-Rera to enforce the rules and regulations prescribed by the government to protect the interests of homebuyers and uphold transparency in the real estate sector. The builder community must adhere to the guidelines set forth by the regulatory authorities to maintain the trust and confidence of consumers.
