HRERA Orders Freeze of 71 Builders' Accounts Over Rs 446 Crore Dues
· Business · Indian Express, The Hindu
Haryana's Gurugram district administration froze the bank accounts of 71 builders to recover Rs 446 crore in unpaid dues and penalties as per HRERA recovery certificates. The dues, some unpaid for over four years, include Rs 91 crore from Ansal Housing and Ansal Construction Housing, Rs 90 crore from Raheja Developers, Rs 80 crore from Vatika Limited, and Rs 74 crore from Parsvnath Developers. Authorities have also initiated proceedings to attach movable and immovable properties under the Punjab Land Revenue Act. If recovery fails via bank balances or asset attachment, administrators may invoke civil arrest and detention of defaulting promoters. Formal demand notices have been issued to clear liabilities immediately.
Why it matters
Homebuyers stuck in delayed projects like Raheja Trinity in Gurugram's Sector 84 may finally see refunds as enforcement action targets defaulting developers. The move signals stricter accountability in Haryana's real estate sector, potentially deterring future delays.
Read the original report — Indian Express
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