Bihar RERA to Auction Builder's Confiscated Land for Homebuyers' Refund
Real Estate

Bihar RERA to Auction Builder's Confiscated Land for Homebuyers' Refund

For the first time, the property of a defaulting promoter, confiscated by the Real Estate Regulatory Authority (RERA) in Bihar, will be auctioned to refund the proceeds to aggrieved homebuyers for the promoter's failure to complete its project.

An official from RERA informed that the authority had confiscated land belonging to Agrani Homes Private Limited in the Dhawalpura locality of Patna in April 2023. This action was taken due to the promoter’s failure to refund the amounts taken from homebuyers after failing to complete its project.

The official stated that the 85.6 decimal of confiscated land, belonging to Agrani Homes, would be auctioned on December 16. The proceeds from the auction would be distributed among the aggrieved allottees who had filed complaints against Agrani Homes at different times. The minimum bid price for the land was fixed at Rs 50.17 million.

The official added that this would be the first instance in the state where the land of a defaulting promoter is being auctioned after the enactment of the Real Estate (Regulation and Development) Act, 2016. Bihar RERA has already established a standard operating procedure (SoP) for distributing the proceeds from the auction.

Previously, aggrieved homebuyers had approached the authority, which had passed orders for refunds in complaint cases and subsequent execution cases. After the promoter failed to comply with these orders, the matter was referred to the Patna district administration under the Public Demand Recovery Act for the recovery of the amount from the promoter.

For the first time, the property of a defaulting promoter, confiscated by the Real Estate Regulatory Authority (RERA) in Bihar, will be auctioned to refund the proceeds to aggrieved homebuyers for the promoter's failure to complete its project. An official from RERA informed that the authority had confiscated land belonging to Agrani Homes Private Limited in the Dhawalpura locality of Patna in April 2023. This action was taken due to the promoter’s failure to refund the amounts taken from homebuyers after failing to complete its project. The official stated that the 85.6 decimal of confiscated land, belonging to Agrani Homes, would be auctioned on December 16. The proceeds from the auction would be distributed among the aggrieved allottees who had filed complaints against Agrani Homes at different times. The minimum bid price for the land was fixed at Rs 50.17 million. The official added that this would be the first instance in the state where the land of a defaulting promoter is being auctioned after the enactment of the Real Estate (Regulation and Development) Act, 2016. Bihar RERA has already established a standard operating procedure (SoP) for distributing the proceeds from the auction. Previously, aggrieved homebuyers had approached the authority, which had passed orders for refunds in complaint cases and subsequent execution cases. After the promoter failed to comply with these orders, the matter was referred to the Patna district administration under the Public Demand Recovery Act for the recovery of the amount from the promoter.

Related Stories

Gold Stories

Next Story
Products

Koemmerling opens Navi Mumbai experience centre

Koemmerling, a brand of the profine Group, has expanded its presence in the Mumbai metropolitan region with the opening of a new experience centre in Navi Mumbai and launched its Allure S46 minimal sliding door system for the Indian market.Located in CBD Belapur, the facility was inaugurated by Peter Mrosik, Owner and CEO, profine Group, along with Farid Khan, Chairman and Managing Director, profine India, and Kamal Bajaj, CEO, profine India.The company said the new centre will showcase its portfolio of uPVC and aluminium window and door systems to architects, developers and homeowners.The ina..

Next Story
Products

India's waterproofing market nears Rs 150 bn milestone

India's waterproofing industry is approaching a market size of Rs 150 billion and is expected to surpass the $2 billion milestone, according to speakers at the 2nd India International Waterproofers Conference & Expo 2026 organised by the Waterproofers Association of India (WAI) in New Delhi.The two-day event brought together more than 20 speakers, 55 international delegates and 53 exhibition booths, with discussions focusing on climate-resilient construction, advanced waterproofing technologies and international collaboration.Inaugurating the event, Durga Shanker Mishra, former Secretary, ..

Next Story
Real Estate

Dilip Buildcon Q1 FY27 Revenue at Rs 23.78 billion

Dilip Buildcon Limited reported consolidated revenue from operations of Rs 2,378 crore in Q1 FY27, along with EBITDA of Rs 429 crore and profit after tax of Rs 128 crore.Consolidated EBITDA margin stood at 18.1%, improving from 17.1% in Q4 FY26. On a standalone basis, revenue from operations was Rs 1,930 crore, EBITDA stood at Rs 199 crore and PAT was Rs 39 crore, with an EBITDA margin of 10.3%.The company’s order book stood at Rs 27,691 crore as of 30 June 2026, compared with Rs 28,830 crore as of 31 March 2026. Roads and highways accounted for 17.1% of the order book, irrigation and water ..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement