UP RERA Chairman
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By Staff Reporter

UP RERA Chairman Sanjay Bhoosreddy, has taken a firm stance on ensuring legal compliance in the state’s real estate sector. Acknowledging the remarkable work done by his predecessor, Bhoosreddy emphasized UP RERA’s commitment to protecting the interests of homebuyers and maintaining transparency in the real estate industry.

One of the primary challenges facing UP RERA is the substantial number of complaints, constituting nearly 40% of the complaints registered across various RERAs in the country. Despite this, Bhoosreddy is determined to build on the foundation laid by the previous team and continue the Authority’s commendable work in resolving complaints.

In a clear message to developers and stakeholders, Bhoosreddy stated, “Everybody should adhere to the law, comply with the law, and go by the rule of law; otherwise, they have to suffer.” This unequivocal commitment to legal compliance is aimed at creating a fair and accountable real estate ecosystem in Uttar Pradesh.

Bhoosreddy also addressed the economic challenges within the real estate sector. He emphasized the need to address economic, financial, and liquidity issues comprehensively. The Authority is launching a counseling and education program, in collaboration with the Department of Information, Government of UP, to provide guidance and support to stakeholders.

Importantly, Bhoosreddy highlighted the obligation of homebuyers to ensure that the projects they intend to invest in are registered with RERA. If a project is not registered, buyers are encouraged to file a complaint or inform RERA. The Authority is committed to educating the public about their rights and responsibilities through various media channels.

Regarding real estate agents, Bhoosreddy outlined plans for a certification and training program. This program will equip agents with the knowledge and ethical standards required for the real estate sector. The aim is to ensure that agents play a constructive role in maintaining transparency and accountability.

In addressing the issue of non-implementation of Recovery Certificates (RCs) issued by UP RERA, Bhoosreddy proposed the establishment of a sound mechanism. This mechanism will either leverage system analytics or establish a dedicated cell to streamline the enforcement of RCs.

Under Chairman Sanjay Bhoosreddy’s leadership, UP RERA is poised to strengthen the real estate regulatory framework, protect homebuyers, and promote ethical practices across the industry.

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