UPRERA has instructed real estate brokers to register projects with the same name as those shown on the approved map and to only sell homes based on carpet area.
Over the past few weeks, the Uttar Pradesh Real Estate Regulatory Authority has issued several directives to safeguard the interests of purchasers. Real estate developers have been told to register their projects under the same name as it appears on the approved map and to only sell housing units based on carpet area. Including neighbors in homebuyers’ complaints is the subject of another order.
Additionally, it now requires real estate developers to provide documentation proving their ownership of the land they want to develop a real estate project.
- Developers must continue to refer to project brands by the names listed on their maps.
As a precaution against misunderstandings among potential homeowners, the Uttar Pradesh Real Estate Regulatory Authority (UP RERA) has instructed real estate developers to use the project names indicated on their maps that were approved by local authorities and registered with the RERA to avoid ambiguities.
The promoters must register their projects using the same name that appears on the approved map, and the names of the towers and blocks must match the names on the approved map, according to a statement by UP RERA.
It’s difficult to ascertain the completion status of the projects as well as to decide the promoter’s application for closure of the project accounts, RERA stated. “As a result of differences between the names of the projects and the towers registered with it and the names in the OC (Occupancy Certificate) or CC (Completion certificate), RERA had to issue these directions.”
Additionally, promoters were using project brand names that differed from those registered with RERA, which cast doubt on the intentions of both current and potential homeowners. Consequently, to rectify these irregularities, RERA has instructed the promoters to advertise the projects under the same name registered with RERA,” it continued.
2 Homebuyers must include names of co-allottees in their complaints
UPRERA requests that homebuyers include the names of co-allottees in their complaints. In a few cases, the complainants had skipped over the co-allottees in their complaints. Consequently, the issues were resolved, and the RERA Benches had only heard from one of the allottees during the hearing.
The co- allottee’s name will now appear as a co-complainant in the complaints that the allottees file. UP RERA said in a statement that the portal offers the necessary functionality.
The method of allocating shops or houses jointly, with co-allottees including husband and wife, father and son, siblings, and other blood relatives, was widespread. In a few cases, a partner or other non-blood relative may also be a co-allottee, and occasionally more than two people.
3 UPRERA will instruct both aspiring and seasoned real estate brokers.
According to the state RERA authority, it will offer certificates and training to new and seasoned real estate agents throughout the state. It announced that it will begin offering a unique certification and training program in which they will study the UPRERA regulations and the terms of the RERA Act. It is comparable to the MahaRERA circular from the previous year, which mandated that real estate agents take a course and show up for an exam.
4 UP RERA requests that promoters give buyers QR codes containing project details.
UPRERA has also asked real estate developers to offer residents and prospective buyers project registration certificates embedded with QR codes.
“The project’s name, the promoter’s name, the registration number with month and year details, the project’s duration with start and finish dates, and the promoter addresses are all included in the registration certificate,” the statement read.
Moreover, the QR code contains vital registration requirements, such as the promoter’s requirement to place 70% of the proceeds realized from the allottees and all funds raised through project finance into a different bank account to be used exclusively for project and construction costs.
To make the project registration certificate visible to potential and current homeowners from a distance, UP RERA has instructed the promoters to print the QR code-loaded certificate and place it prominently in its office and the project site marketing office.
“Homebuyers can view project details, such as information about the land, approvals, quarterly progress reports, etc., on the authority’s website by scanning the QR code on the certificate with their smartphones. It continued, “Form-C is being used to issue the project registration certificate.”
5. UP RERA requires developers of housing projects to sell units based on carpet area.
Real estate developers are required by UPRERA to only sell houses or apartments based on the carpet area. According to a statement from UP RERA, “Super Area” has no justification by the provisions of the RERA Act alongside other laws and contracts.
The RERA Act’s provisions state that purchasing and selling apartments is only permitted based on carpet area, so selling apartments on this basis will be deemed unlawful, the statement reads.
“The RERA Act does not define or abbreviate the term Super Area. UP RERA Chairman Sanjay Bhoosreddy says, “Allottees must consider the Carpet Area as the actual area of the unit or apartment and pay the promoter according to this area.”
There is an example of a sale agreement between an allottee and a promoter on the UP RERA portal. The carpet area is another basis for this sample sale agreement. Thus, the statement states that selling flats or apartments on the foundation of a “Super Area” is against the RERA Act’s provisions.
Promoters must thus make sure that only the Carpet Area is for unit sales. Legal action could result from breaking the clause, the UP RERA stated.
A few weeks earlier, the pan-Indian Association of Homebuyers, Forum for People’s Collective Efforts (FPCE), suggested that the housing ministry create a department to supervise all state real estate regulatory authorities (RERAs).