The article provides a brief note on the roles and responsibilities of UP RERA. It mentions the registration process of various stakeholders and discusses UP RERA's achievements.
Uttar Pradesh has authorised UP-RERA as the official body for monitoring and promoting the real estate development of the state. Uttar pradesh has always been the most populous state in India. The population density of this state is relatively high; the destination is quickly urbanised. Real Estate (Regulation and Development) Act 2016 was passed, Uttar Pradesh was one of the pioneers to go ahead and implement it.
Since then, the nodal body has played a pivotal role in managing one of the most vibrant real estate micro-markets. Under the aegis of UP-RERA, the property markets of Ghaziabad, Noida, and Greater Noida have thrived. Nonetheless, hand in hand, the scam and illegal activities have also mushroomed, bringing in unwanted issues in the property market. However, UP-RERA has dived into that space to make the whole system more transparent, efficient and accountable.
On October 27, 2016, the Uttar Pradesh RERA Rules were published. The state has loosened a few restrictions. Multiple Buyers’ Associations petitioned the government to modify the law to favour buyers because these constraints favoured builders. In response to these demands, Aditya Yogi’s government promised to enact reforms; however, the authority has not yet provided an update.
Objectives of UP-RERA
To infuse a positive business environment that will benefit both the buyers and the sellers, UP RERA has taken up several measures.
- It has taken up the role of a facilitator by encouraging accurate and symmetrical information among all the stakeholders
- For that purpose, it has brought in all the stakeholders of the realty market on a common platform. It has implemented a seamless registration process for the promoters, property managers and agents. The primary responsibility of UP-RERA thus has been to enlist all the properties – be it residential or commercial.
- In Uttar Pradesh, RERA is valid for ongoing and upcoming construction projects
- To register on the UP-RERA website, an individual broker has to give ₹ 25,000, and a brokerage firm needs to pay ₹2,50,000
- For the promoters and other sellers, the registration fee varies depending upon the size and nature of the project
- While deciding the registration fees, the concerned authority also considers the details of land use. For example, they check the portion of land used for commercial and residential purposes and whether or not the project has any provision for mixed land use
- Once registered, all the properties are given valid registration numbers, under which the properties remain enlisted, and their details can be checked from the website
- During the phase of the house-hunt, prospective buyers can easily browse the UP-RERA website and search for their desirable properties
- Since all the ongoing and upcoming properties are enlisted, the buyers can have a glance at the status of the project
- The official portal of UP-RERA provides the necessary details regarding the number of litigations (if any) of the concerned properties
- To help the buyers access accurate and up-to-date data regarding the status of the projects, the property builders remain obliged to update the project’s status regularly.
These measures have helped UP-RERA establish a standardised process and bring a professional outlook. These have also looked after buyers’ interests while eliminating the chances of fraudulent activities or any other form of corruption.
Pertinence and exemption of UP-RERA
All the rules and regulations laid out by UP-RERA remain valid for all the ongoing and upcoming projects, their builders and property dealers etc. However, following cases enlist the exceptions when the property dealer or the builders are not liable to follow such rules.
For example
- If the land area for the proposed project is less than 500 square meters, they will be exempted from following RERA rules and regulations
- Secondly, if the number of apartments in the proposed project exceeds 8, they will not be liable to follow RERA guidelines
- If the building promoter has secured the project completion certificate before the inception of the RERA Act, 2016, they are not liable to follow it
- If the buildings are undergoing repair or renovation or even in case of re-development of the existing building, the builders are not obliged to follow RERA rules and regulations
Achievements of UP-RERA
UP-RERA has categorically and systematically laid out the rules and regulations of property registration. The first-time buyers and the property dealers are advised to check these rules and regulations before engaging in any transaction related to real estate.
UP government has implemented one of the most demanding and strict rules; failing to adhere to such rules and regulations will call for a very high penalty and even imprisonment for up to 3 years. The property dealers also risk being officially disqualified from selling the concerned property.
Since the establishment of RERA, UP-RERA has registered a maximum number of RERA complaint in the country. Most of these complaints have been against the property dealers operating in Ghaziabad, Noida, and Greater Noida. To facilitate the process of grievance redressal and expedite the process of property buying and selling, UP RERA has taken up adequate measures. It has solved almost 80 Percent of the dispute within a record time. This has reinstated buyers’ confidence and boosted the investment appetite of real estate investors.
UP-RERA is reported to have recovered nearly ₹150 cr from the defaulters for failing to deliver what they promised or any other violation of RERA regulations. This amount is being disbursed among the homebuyers who were suffering due to the delay in project completion or any other reasons for which they have not got the possession of their property on time.
Step-by-Step guide for RERA Registration
The official website of UP RERA has three different registration forms for promoters, the projects, and property agents.
The online form of registration for the promoters
The online form of registration for the projects
The online form of registration for the agents
The process to be followed by the prospective buyers.
- Step 1, They can browse the UP-RERA website as guests without having the obligation of registration;
- Step 2: For the process of house hunting, the users can browse the website and search for a particular property by clicking the “‘Projects” button;
- Step 3: Once the users fill in the name of any particular realty project, the details regarding that project will appear on the screen;
- In step 4, the user can check the project’s status and the location and note down its registration number for further details of the project, including information regarding litigated properties.
The process to be followed by the Promoter.
- Step 1: the promoters need to fill up the form attached to the website, which is marked as ‘Promoter’;
- Step 2: After filling the form with requisite details and a valid mobile number, they will receive an OTP in that number. Entering that number will validate the registration process by checking its authenticity;
- Step 3: For the completion of the registration process, the promoters need to furnish valid contact details, Aadhaar numbers, PAN card details, income tax details, etc.;
- Step 4: The promoters must pay the registration fee to officiate their registration and get the registration numbers.
The process to be followed by the Agent.
- Step 1: the agents need to fill-up the form attached to the website, which is marked as ‘Agent’
- Step 2: They need to provide address proof and their pan card numbers, mention the types of enterprises, etc.;
- Step 3, they need to pay the requisite registration fee to validate and officiate their registration.
Conclusion
The prospective buyers will get comprehensive and useful information about the property following these easy steps. They can identify the default properties. This process has established credibility and accountability for the promoters and property agents. This UPRERA platform has eliminated unwanted hassles that delay the project competition and bring vitality and integrity to the system.
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