Accounts of 71 builders frozen over non-payment of dues worth Rs 446-cr ordered by HRERA

In a recent development, Haryana's Real Estate Regulatory Authority (HRERA) has directed 71 developers to freeze their bank accounts, seizing over Rs 446 crore in outstanding dues and penalties. The deadline for the completion of the Raheja Trinity project in Gurugram's Sector 84 remains unmet, leaving investor Rohit Singh and others with unpaid dues and no communication from the developer.

The district administration of Gurugram has launched a coercive recovery drive to enforce compliance, attaching both movable and immovable properties of the defaulting builders under the Punjab Land Revenue Act. Apart from freezing operational accounts, authorities have initiated proceedings to attach properties. If recovery efforts through bank balances and assets fail, the district administration reserves the right to impose civil arrest and detention on defaulting promoters.

The list of defaulters includes prominent developers such as Ansal Housing and Ansal Construction Housing, Raheja Developers, Vatika Limited, and Parsvnath Developers, with the former two owing Rs 91 crore and Rs 90 crore, respectively. Deputy Commissioner Uttam Singh emphasized that while HRERA penalizes non-compliant builders, the regulatory orders remain ineffective if the relief does not reach the affected homebuyers.

The district administration's action aims to address this procedural bottleneck, with Deputies Commissioner conducting weekly progress reviews and Sub-Divisional Magistrates and Tehsildars tasked with executing recoveries in a timely manner. HRERA Chairperson Arun Kumar welcomed the step, stating that it marks the first of its scale in their experience, ultimately ensuring that funds reach the aggrieved buyers.