UPRERA Issues 5 Orders To Safeguard Home Buyers' Interests In Uttar Pradesh

During registration, developers must furnish unique QR codes to the Uttar Pradesh Real Estate Regulatory Body. In light of this, the promoters will make sure that the special QR code offered is mentioned in the brochure, advertisement, and other print, digital, electronic, and other media.
UPRERA

UPRERA Issues Five Orders To Safeguard Home Buyers' Interests In Uttar Pradesh (Image Source: iStock)

The Uttar Pradesh Real Estate Regulatory Authority has issued several orders safeguarding the interests of home buyers. With the growing demands and registrations, the developers often mislead the home buyers into signing the sale agreement without proper details and documents. Furthermore, the developers lead the home buyers’ signing ‘conditional’ possession.
The regulatory body has asked the developers that all amenities should be ensured before making them sign the sale agreement. Given this, UPRERA has proposed that a QR code will be provided during the time of registration, according to the Hindustan Times report.

A Mandate of QR CODE

The Real Estate Regulatory Body of Uttar Pradesh has given a mandate to provide unique QR codes to the developers during registrations. Given this, the promoters shall ensure that the unique QR code provided should be mentioned in the brochure, advertisement, and other media such as print, digital, electronic, etc. This will permit the home buyers to scan and look into amenities and render an assured beforehand, the report added.
Realtors shall ensure the amenities promised before signing the Sale Agreement. Realtors shall ensure the amenities promised are provided before making the home buyers’ sign the sale agreement. The regulatory body mentions that it has received several complaints from the allottees regarding the realtors pursuing them to sign the sale agreement without ensuring proper amenities.
Sometimes, the developers force the buyers’ to sign off on an agreement different from a sale agreement without proper knowledge of the allottee. Frequent complaints have been filed in this regard with UPRERA.
The regulatory body UPRERA issued a warning for the promoters selling house units to the allottees without proper layout and map on the portal. It further stresses the mandatory provision of layout, proper land records, and maps on the portal of their respective websites, the report added.
The promoters shall not misguide the allottee. In the case of non-abidance, the UP regulatory body will put them under the “non-abeyance list.”
Moreover, the regulatory body has mandated the sale and purchase of the property through the agents registered with UPRERA. The sale and purchase will only be considered valid if registered with UPRERA. The agent should facilitate the sale and purchase in reference to UPRERA terms and policies to ensure stakeholders’ interests. UPRERA aims to revive 10 stalled projects
The Real estate regulatory authority of Uttar Pradesh has decided to revive 10 stalled projects. According to a media report, the authority has taken 17 housing projects worth 2,000 crores, which are halted due to certain factors such as loan defaults, bankruptcy, and other financial
constraints.
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