HARERA has barred the auction of a loan-defaulting project by bank to recover damages without prior adjustment of allottees’ dues.

The fees to be paid by the promoter/builder in case of registration of the Real Estate project with the RERA Authority which is a mandate under Section-3 of the Act.

A welcome move by the HRERA authority as it creates a balance between both the parties and is justifies for the aggrieved buyers who had to in worst case of scenario had to give up their full earnest money.