Gurugram realty body issues notice to freeze accounts of real estate firm

The Haryana Real Estate Regulatory Authority (HRERA), Gurugram, has issued a notice directing the freezing of all accounts associated with a real estate firm.

The company M/s Mahira Infratech ltd, previously known as M/s Sai Aaina Farms Pvt. Ltd, was developing a real estate project titled ‘Affordable group housing colony’ over an area measuring nearly 10 acre in Gurugram’s Sector-68.

The real estate body directed the Lead District Manager of the company to furnish the details of bank accounts along with statements of all accounts associated with its promoters, it has come to the notice of the authority that these accounts are operational other than those declared at the time of registration.

Earlier in May, the Haryana Town and Country Planning Department passed an order for cancellation of the license of a project and informed the HRERA for cancellation of license and requested it to freeze the account of the company with immediate effect.

According to The Real Estate (Regulation and Development) Act, 2016, the HRERA has the right to revoke the registration of a project under section 7 and this is the extreme punitive step taken by it.

The real estate body has registered various affordable group housing projects associated with the Mahira Group such as Mahira Homes-103 developed by Mahira Buildtech Pvt. Ltd, Mahira Homes in sector 63-A, Mahira Homes 95, Mahira Homes 104 developed by Czar Buildwell Pvt. Ltd.

The HRERA has asked the bank to furnish in writing the details along with attested copies of bank statements of all accounts associated with these promoters opened with any branch of all the banks anywhere in Gurugram or NCR at the earliest.

K.K Khandelwal, Chairman, HRERA, said, “We asked the bank to freeze the account of the company so that hard earned money of innocent buyers can’t be siphoned off for other purposes by the company. This decision by the real estate authority will send a strong message to erroneous builders that wrong action on their part will not be ignored and will be penalised strictly.”

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