UP-Rera Guidelines for Builder-Buyer Settlements: Ensuring Transparency and Compliance
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The Uttar Pradesh Real Estate Regulatory Authority (UP RERA) has recently undertaken several initiatives aimed at protecting the interests of homebuyers in the state. These proactive measures include directives related to project registration, resolution of complaints, training of real estate agents, QR code implementation, and ensuring transparency in property transactions. This article delves into the key actions taken by UP RERA to enhance consumer protection and promote transparency in the real estate sector.

1. Standardization of Project Names:

UP RERA has mandated real estate developers to maintain consistency in project brand names as recorded in the sanctioned maps approved by local authorities and registered with RERA. This initiative aims to eliminate confusion among homebuyers and ensure clarity regarding the completion status of projects.

2. Inclusion of Co-Allottees in Complaints:

To streamline the resolution process, UP RERA has instructed homebuyers to include the names of co-allottees in their complaints. This ensures that all relevant stakeholders are involved in the dispute resolution process, expediting the resolution of grievances.

3. Training Program for Real Estate Agents: Recognizing the pivotal role of real estate agents, UP RERA has initiated a training and certification program for both new and existing agents. This program aims to enhance agents’ understanding of the RERA Act and UP RERA rules, ensuring compliance with regulatory requirements and ethical standards.

4. Implementation of QR Code:

UP RERA has directed real estate developers to embed QR codes in project registration certificates, providing easy access to project details for homebuyers. This initiative enhances transparency and enables homebuyers to verify project information conveniently using their mobile phones.

5. Selling Units on Carpet Area Basis:

In line with RERA provisions, UP RERA has mandated developers to sell housing units based on carpet area only. This move aims to prevent misleading practices related to super area calculations and ensures fair transactions between developers and homebuyers.

Conclusion: UP RERA’s proactive measures underscore its commitment to safeguarding the interests of homebuyers and promoting transparency in the real estate sector. By standardizing project names, streamlining complaint resolution processes, empowering real estate agents through training, implementing QR code technology, and ensuring adherence to carpet area-based transactions, UP RERA is fostering a more accountable and consumer-friendly real estate environment in Uttar Pradesh.

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