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The Real Estate Regulatory Authority (RERA) in Bihar has taken possession of 27 katha of land belonging to Agrani Homes in Patna. Agrani Homes failed to honour its obligations to property buyers and breached RERA regulations, leading to the confiscation. The RERA authorities placed a sign on the property last week to intimate the public of the same.
According to press reports, the chairman of RERA, Naveen Verma, stated that the authority will sell the land through an auction and distribute the proceeds amongst the customers who were affected by the non-compliance of Agrani Homes Private Limited. He claimed that the RERA order was put into order because Agrani Homes did not respond to several warnings and notices from the authorities.
As per sources, the action has been taken based on three execution cases filed by property buyers who were affected, as per Section 40 (2) of RERA Act and Rule 26 of Bihar RERA Rules. The orders were issued in October and November 2022. The concerned plot is located in the Dhawalpura area of south Patna.
This is not the first time Agrani Homes has had to face severe consequences for flouting RERA rules. In February 2021, the RERA authority ordered the seizure of all assets, both movable and immovable, belonging to the current and former directors of Agrani Homes, and froze their bank accounts.
Agrani homes is a real estate company based in India. The company primarily focuses on developing residential and commercial properties in various cities across the country. Agrani Homes has been in the real estate industry for over a decade and has completed several projects. The company claims to offer affordable and quality housing to its customers.
Apart from the legal issues, Agrani Homes has also been the subject of controversy due to its alleged involvement in a land scam. In 2019, a complaint was filed against the company and its directors for allegedly encroaching upon government land and constructing buildings without proper approval. Overall, Agrani Homes has faced several legal and reputation-related challenges in recent years, which have raised concerns among its customers and investors.
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