Haryana RERA Directs Mahira Homes to Deposit Funds in RERA Accounts

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    Haryana RERA (H-Rera) has issued a strong warning to Mahira Homes, the promoter of affordable housing projects, instructing them to deposit deficient funds into the regulator’s accounts. Failure to comply could lead to the revocation of the authority’s registration for all of Mahira’s projects and possible legal action.

    H-Rera chairman Arun Kumar unveiled a three-step plan to address delayed affordable housing projects by Mahira Homes and provide relief to affected homebuyers.

    During a recent meeting, Kumar informed homebuyers that the authority is initiating the process to revoke Rera registration for all five of Mahira’s projects due to their failure to complete and deliver units as per the state government’s affordable housing policy.

    Sources within the authority reveal that Mahira Homes has withdrawn approximately Rs 400 crore from the Rera escrow account, violating regulations.

    Kumar stated that Mahira Homes must deposit any diverted funds back into the Rera accounts to prevent freezing. Failure to comply may result in legal action, as previous complaints have led to FIRs against the developer.

    The authority has enlisted an agency to assess the feasibility of stalled projects and devise a plan for their prompt completion.

    In a recent meeting with over 100 homebuyers from Mahira’s five projects, the H-Rera chairman and authority members listened to grievances and discussed potential resolutions in accordance with the Rera Act.

    Attendees from various projects voiced concerns about incomplete construction and delays in unit delivery, emphasizing the need for Rera’s intervention.

    The meeting aimed to address grievances and develop a plan of action, with the Rera chairman personally inspecting project sites to assess the situation.

    Homebuyers stressed the urgency of completing projects that have fallen behind schedule, seeking clarity and support from the authority.

    Also read : MahaRERA, ASCI Team Up to Spot Non-Compliant Real Estate Developers

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