Thursday, December 03, 2020


HARERA orders to attach accounts, properties of defaulter real estate developers

PUNJAB NEW EXPRESS | October 28, 2020 09:56 PM

CHANDIGARH: In the judgments pronounced by Dr. K.K. Khandelwal, Chairman, HARERA, Gurugram in cases against various developers the Authority has maintained its continuous efforts to regularize the real estate sector by keeping a strict vigil upon the promoters indulged in several malpractices and mischiefs, besides punishing them rigorously, so as to achieve the aim of a standardized real estate sector which shall work in a transparent and an efficient manner.

The bench headed by Dr. K.K. Khandelwal, Chairman and Mr. S.C. Kush, Member of the Haryana Real Estate Regulatory Authority, Gurugram on October 27, 2020 has taken strict actions against various promoters in the wake of complaints preferred by a number of allottees.

In execution proceedings against M/s CHD Developers, M/s Ireo Pvt. Ltd., M/s Landmark Apartments Pvt. Ltd., M/s Siddhartha Buildhome Pvt. Ltd., M/s Vatika Ltd., M/s Tashee Land Developers Pvt. Ltd. and M/s Tulsiani Constructions and Developers Pvt. Ltd. the Authority has ordered to attach the bank accounts to the extent of decretal amount of Rs. 7 crores, along with the movable properties of the Directors.

An order has been made to issue a bailable warrant against the Directors of M/s Prime Time Infra Projects Pvt. Ltd. for not complying with the orders of the Authority. During the hearing of the matters pertaining to execution petitions, the authority observed that the M/s Clarion Properties Ltd. has done gross violation of Section 3 of the Act by not registering the project in question with the Authority. The Authority directed to issue a show cause notice against the developer for non- registration of project under Section 59 which states that “the promoter shall be liable to a penalty up to 10 per cent of the estimated cost of the real estate project” and if the promoter continues to violate the provisions of Section 3, he shall be punishable with imprisonment for a term up to 3 years or with fine further up to 10 per  cent of the estimated cost of real estate project, or with both.

Since, the promoters are indulged in unfair trade practices including delay in handing over possession, stringent action has been taken against the promoter in the complaints against M/s Supertech Ltd. The Authority has ordered to pay Rs. 5 crores to the allottee for delay in handing over of possession by the promoter. Hefty cost of Rs. 1, 30, 000 was imposed on the promoter M/s Supertech Ltd. for not filing reply within the stipulated time and the same has been paid, which will be disbursed to the allottees, thus uplifting the trust of homebuyers in the real estate sector.

Dr. Khandelwal is of the view that such actions against the defaulting promoters would not only help in providing an environment of growth and development of the real estate sector but would also assist the allottees in gaining and preserving their trust in the Authority for quick redressal of their moans and grievances afflicted due to wrong deeds of the promoters, who have become reluctant in completing their projects within stipulated time frame and according to the rules and regulations laid down in the Haryana Real Estate (Regulation and Development) Act, 2016.

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