Real Estate Regulatory Authority (RERA), Bihar, has started conciliation mechanism for resolving disputes between customers and promoters.

Altogether 23 cases were taken up by the conciliation forum on the first day of the initiative.

The real estate regulatory body has set up Bihar RERA Conciliation and Dispute Resolution Cell (BCDRC) to facilitate amicable conciliation of disputes between promoters and allottees through dispute settlement forum or cell.

An official said the step has been taken for amicable settlement of disputes with direct partcipation of the home buyers and the promoters. In fact, the process of conciliation is likely to be completed in two or three sittings. One conciliator each from buyers’ association, promoter or builder association along with former district judge and former adjudicating officer Ved Prakash as the chairman form the conciliation forum. The selection of candidates representing promoters’ interests has been done from among names provided by Bihar chapter of CREDAI.

Ravi Anand, Kamlesh Kumar and Satish Kumar would be part of the forum representing customers, while Narendra Kumar, Manikant and Sachin Chandra would represent promoters in the forum.

Bihar RERA has taken the assistance of Mumbai Grahak Panchayat for nominating conciliators representing the interest of home buyers. They are Ravi Anand, a journalist, Kamlesh Kumar, a banker and Satisah Kumar, a chartered accountant, with all being volunteers of Mumbai Grahak Panchayat.

Former chairman of Maharashtra RERA, Gautam Chatterjee, IAS (retired) who at present is mentor of Bihar RERA, is assisting in launching conciliation process here.

Source: https://timesofindia.indiatimes.com/city/patna/rera-introduces-conciliation-forum/articleshow/90967753.cms

The Bihar Real Estate Regulatory Authority (BRERA) has taken strong action against three private developers for violating RERA norms, an official said on Tuesday.

The action has been taken after more than one dozen home buyers filed written complaints with the BRERA. The official said that the real estate companies — Green Vatika Homes Pvt Ltd, Arunendra Developers Pvt Ltd and Shiba Welcome Pvt Ltd – violated RERA guidelines.

Accordingly, action has been taken against them in the last one week.

“The home buyers have filed complaints against these builders and the violation was found during the hearing. Accordingly, we have frozen the bank accounts of directors of the companies,” the official said.

“Besides, we have also asked them to submit all financial transactions, investments and expenditures of the companies after the particular project launched in Bihar. Till that time, we have stopped them from selling residential units till the next order,” the official said.

Home buyers have filed complaints against Green Vatika Homes, for instance. The company has projects named VIP Residency, Pusp Vatika, Kamal Complex, Urmila Vatika and other projects in Patna and other districts.

“We have paid 80% to 90% of our total cost of the residential flats but our builder has not completed the construction accordingly. We strongly believe that the builder has three to four projects underway and it has invested our money in other projects,” said Ravindra Kumar Sinha, a home buyer.

Bihar RERA has frozen the bank accounts of Pankaj Kumar, Chandan Kumar and Upendra Mandal, directors of Arunendra builders. The regulatory body has also banned the sale of residential units of its projects at Phulwari Sarif, Danapur-1 enclave and other parts of Bihar.

The next hearing on Green Vatika Homes and Arunendra builders is scheduled for April 16.

Similarly, Bihar RERA has frozen the bank accounts of Khalid Rashid and Amina Rashid, the directors of Shiba Welcome builders. RERA has also banned sales of the project Rajeshwar Apartment.

The hearing of Shiba Welcome Builders is scheduled on May 10.

Source: https://realty.economictimes.indiatimes.com/news/regulatory/bihar-rera-penalises-green-vatika-homes-arunendra-developers-shiba-welcome/82060175

The Real Estate Regulatory Authority (RERA), Bihar has ordered confiscation of all movable and immovable property of the present and previous directors of Agrani Homes Private Limited and freezing of their bank accounts.

The order was passed by the bench of RERA, Bihar chairman Afzal Amanullah and member R B Sinha on February 10. The two were hearing a bunch of complaints filed by the aggrieved real estate buyers, who have made payments to Agrani Homes but have not got possession of the property.

The RERA has also ordered that utilisation of a building constructed on a residential plot in Patliputra area by Ruben Hospital (Ruben Patliputra Hospital Pvt Ltd) be stopped until further orders or an approval from Patna Municipal Corporation (PMC) for utilisation of the residential property as a hospital, whichever is earlier. Ruben Hospital has been asked to explain why they were using the building for medical purposes without proper deed as well as authorisation from PMC.

The RERA has also ordered that utilisation of a building constructed on a residential plot in Patliputra area by Ruben Hospital (Ruben Patliputra Hospital Pvt Ltd) be stopped until further orders or an approval from Patna Municipal Corporation (PMC) for utilisation of the residential property as a hospital, whichever is earlier. Ruben Hospital has been asked to explain why they were using the building for medical purposes without proper deed as well as authorisation from PMC.

The RERA bench has observed that a part of the money paid by Ruben Hospital for buying the land at Patliputra was used by Agrai Homes for closure of a loan account of Indus Ventures, a firm run by Vijaya Raj Laxmi, wife of Alok Kumar, managing director of Agrani Homes.

The RERA has stated in its order that all moveable and immoveable property of Alok, his wife Vijaya and their son should be brought under the lien of RERA with immediate effect. Similarly, all moveable, immovable properties and bank accounts of all its present and previous directors, their spouses, dependent children and all their power of attorney holders have been frozen.

Source: https://timesofindia.indiatimes.com/city/patna/confiscate-property-of-agrani-directors-rera/articleshow/80901356.cms

PATNA

The appellate tribunal of Real Estate Regulatory Authority (RERA) in state will officially start functioning within the next 15-20 days, RERA (Bihar) chairman Afzal Amanullah said on Tuesday.

Amanullah said the appellate tribunal is headed by Justice (retd) Arun Kumar with two more members. He said the real estate buyers or builders unsatisfied with the RERA judgement can appeal to the tribunal.

Amanullah said all the ongoing registered projects will have to complete their construction work by December 2020. “Of total 654 registered real estate projects, 50% are new,” he said.

“Besides, the accounts and finance team of RERA will now keep a tab on the accounts of builders to ensure that all the money invested by the consumers is being used for that project only. About 70% of the amount realized from the consumers shall be deposited in a separate bank account to be solely used for the particular project,” he said and added: “Builders failing to follow the norms will be penalized.”

Highlighting the achievements of RERA, its member Rajiva Bhushan Sinha said when it came into existence in Bihar in April 2018, only a handful of projects were registered. “Now more than 1,100 builders have applied for registration. Total 438 complaints have been received in the last one year and 322 of them are in the hearing stages while judgement has been delivered in 70 cases,” he said.

RERA member Subodh Kumar Sinha said, “We are not only helping the buyers, but also the builders in getting loan from the banks and meeting other construction-related requirements.”

Source: https://realty.economictimes.indiatimes.com/news/regulatory/appellate-tribunal-to-be-functional-soon-bihar-rera-chairman/70155355