Real Estate Regulatory Authority (RERA) will start the financial audit of Indirapuram Habitat Center (IHC) soon. The move came after Ghaziabad Development Authority (GDA) submitted its recommendation in court for the financial audit of IHC. The court will appoint an agency to do the audit . IHC has to pay dues of over Rs. 49 crore to GDA.
District administration of Ghaziabad had sealed IHC in July 2018 over non payment of stamp duty amounting to Rs. 49 crore. However, after 9 days its phase 1 was unsealed as the builder deposited Rs. 2 crore and 2 lakhs to the revenue department. Its phase 2 and 3 are still sealed.
In July 2019, on the complaint of Indirapuram Habitat Centre Shops Owners Association (IHCSOA), RERA court passed an interim order restricting the builder to sell or mortgage any property at Indirapuram Habitat Centre from July 3 onwards.
The judge has also ordered a site visit of the mall by RERA officials. IHCSOA had approached RERA against the builder for allegedly committing various irregularities and fooling the buyers. The association said that IHC Pvt. Ltd (builder) sold shops, studio apartments and commercial spaces under the schemes of assured returns through its various channel partners and property dealers.
Indirapuram Habitat Centre (IHC) is a mall situated in a posh locality of Indirapuram where residents of Indirapuram shop. IHCSOA is a registered body of shops owners operating at the mall.
Built on 2.5 acres of land in Indirapuram, the entire project of IHC is left abandoned as its promoter is in jail since March 2019. Delhi police had arrested promoter of IHC on the complaints of allegedly defrauding a few investors in the mall.