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Wednesday, November 20, 2019
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Haryana RERA Orders Criminal Case against Home Loans Companies & IFCI for Withdrawing Money Collected from Flat Buyers

Builders and developers should not use 70% of the fund collected from homebuyers to repay loans, rule Real Estate Regulatory Authorities (RERAs) from two states, says a report. In one such case, the Haryana Real Estate Regulatory Authority (H RERA) even directed the police to register a criminal case against three finance companies for withdrawing funds from the RERA escrow account for loan repayment.

https://www.moneylife.in/article/haryana-rera-orders-criminal-case-against-home-loans-companies-and-ifci-for-withdrawing-money-collected-from-flat-buyers/56989.html