PATNA: The Bihar Real Estate Regulatory Authority (BRERA) has issued strict orders to three private developers for violating RERA rules. The BRERA came into action after receiving more than a dozen of homebuyers written complaints. According to the officials the real estate companies, Arunendra Developers Pvt Ltd, Shiba Welcome Pvt Ltd, and Green Vatika Homes Pvt Ltd were flouting the RERA rules. As a result, strict action was taken against these companies last week.
Ravindra Kumar Sinha, a home buyer, said. “We paid 80% to 90% of the total cost of our apartment, but the developer didn’t complete construction on time. We believe that the developer has three or four projects underway and has invested our money in other projects.
Statements from BRERA officials-
Home buyers filed complaints against these builders and the violation was discovered during the hearing. Considering this, the authority has frozen bank accounts of the company executives including directors.
In addition, the authorities have asked them to provide all the details of companies including all financial transactions, investments and expenses after a certain project launched in Bihar. Also they are not allowed to sell any residential apartments till the next order.
Bihar RERA has frozen bank accounts of the directors of Arunendra builders including Chandan Kumar, Pankaj Kumar, and Upendra Mandal. The authority has also imposed a ban on the sale of residential units of its projects at Phulwari Sharif, Danapur-1 enclave and other areas of Bihar.
Likewise, the authority has restricted or frozen the bank accounts of the directors of Shiba Welcome Builders including Amina Rashid and Khalid Rashid. The authority has also banned the sale of residential units of Rajeshwar Apartment Project.
The next hearing in the case of Arunendra developers and Green Vatika Homes scheduled for April 16 and Shiba Welcome Builders hearing scheduled on May 10th.