The Haryana Real Estate Regulatory Authority (HRera) has issued 1,190 recovery certificates to reclaim Rs 1,043 crore owed to homebuyers by defaulting builders. However, despite these efforts, only Rs 225 crore has been recovered so far, covering just 261 cases. A significant Rs 800 crore is yet to be recovered.
H-Rera was set up following the Real Estate (Regulation and Development) Act of 2016 to protect the interests of homebuyers and ensure accountability in the real estate sector. However, the authority faces substantial challenges in enforcing its recovery orders.Of the total amount, Rs 148 crore was recovered through the initial 170 recovery certificates. The appointment of an adjudicating officer boosted recovery efforts slightly, leading to an additional Rs 49 crore being recovered from 91 more cases.
Most pending recoveries involve high-profile builders, many of whom operate in Gurgaon. Despite legal orders, these builders continue to resist compliance, leaving numerous homebuyers in financial limbo. The stalled projects and unfulfilled promises have led to growing frustration among investors.
Deepak Dinesh, a homebuyer who invested in a residential project over 10 years ago, expressed his frustration, saying, “I put my faith in this project and waited patiently for a decade, but I have neither received the flat nor a refund. We are being dragged through a lengthy process without any tangible results.”
Another homebuyer, Shweta Kapoor, shared a similar sentiment. She invested her life savings in a project that has been stalled for years. “We are helpless. It feels like we are stuck in an endless loop of court orders and legal notices, but there is no actual resolution. I’ve lost hope of ever getting my flat or my money back,” Kapoor said.
Some of the builders have substantial dues ranging up to Rs 100 crore and arrest warrants pending against them. Despite Rera issuing over 200 arrest warrants, enforcement remains a significant hurdle, with only 20% of cases seeing any positive outcomes for homebuyers.Rajendra Kumar, H-Rera adjudicating officer, affirmed that the authority is continuing its efforts to ensure recoveries, stating, “We are taking all necessary legal steps to bring defaulting builders to task and provide justice to homebuyers.” However, with Rs 800 crore still owed, the path to recovery appears long and uncertain.
