The launch of the RERA registration platform by Uttar Pradesh Chief Minister Yogi Adyityanath has brought relief to real estate developers and agents.
The platform, www.up-rera.in, will allow builders to start promoting their projects after completing the registration process. While builders in other states have to wait for allotment of registration number after filling in their project details, builders in Uttar Pradesh can get a RERA registration number immediately.
Advantage and relief for builders
The launch of UP’s RERA website on 25th July gives real estate builders and promoters around four days to fill in all the required details. While expressing relief at the launch, president of CREDAI – NCR, Manoj Gaur, mentioned that while the members are very excited about the “instant registration number” feature of this website, they hope that government will give builders a few grace days to complete all the formalities.
Once the registration is complete and real estate projects receive their registration numbers, builders can start advertising and selling their housing projects. For the past few months, the real estate market had come to a virtual standstill as the central government had made it imperative under Real Estate Regulation and Development Act 2016, that fresh real estate projects and ongoing projects that have not received completion certificate cannot be sold without a RERA registration number.
Protest against UP RERA Norms
While the sellers are happy with regulations framed under the real estate regulation act implemented in the state, the buyers are a displeased lot as they feel that the regulations under the Act have been diluted to give real estate promoters an upper hand. According to a press note released by Abhishek Kumar, President Noida Extension Flat Owners Association (NEFOWA), the UP state government’s version of RERA is soft on builders and the Association is planning to challenge it in the courts.
While NEFOWA has pushed for the adoption of RERA in its pure form, the previous state government’s recommendations have been implemented in UP-RERA where the clauses that would lead to penal action against builders for non-compliance have been diluted.
