The Chief Minister of Uttar Pradesh, Yogi Adityanath, launched the online Real Estate Regulatory Authority (RERA) registration platform today in Lucknow. On the other hand, the Confederation of Real Estate Developers Association (Credai) expressed pain relief with the launch of the online RERA registration site. This heralds heading back to business as they might now have the ability to endorse their future projects officially for the builders following the RERA registration.
In Uttar Pradesh, not like many states, the builders can enroll their projects on the website and immediately will receive a RERA registration number. This bodes well for all the builders who were not getting the chance to advertise their forthcoming projects in the media as the Act averted any non-RERA project to be bought from in the state. The builders will have now four days (until 31st July) to join in their ongoing projects. An advantage of a few days has been expected for everyone to seriously come to the table with the Uttar Pradesh Real Estate Regulatory Act (UP-RERA).
The president of Credai-NCR, Manoj Gaur, said to the Times of India (TOI) over a call from Lucknow that “This comes as a huge relief and the instant registration number is a great feature. So builders can today itself register their project and then advertise their upcoming projects. Business should get moving now. While July 31 is the last official date for existing projects, we hope the builders would get a few days grace to comply. Over all, it is good news for all stakeholders”. While commenting on the launch, the Supertech chairman RK Arora said, “We were already prepared with our paperwork for this. So we will register all our projects today.”
On the other hand, the buyers’ quarters looked like a displeased because the UP-RERA enrollment is likely to be carried out in the set-up as executed by the ex-state government in October 2016. The buyers today intimidated to challenge the UP-RERA in court as a number of clauses regarding action against contractors for noncompliance being diluted in this format. The president of Noida Extension Flat Owners Welfare Association, Abhishek Kumar, said that “It has been our singular demand to implement RERA in UP in its pure form as introduced by the Union government. The UP version of RERA is soft on builders and we will challenge this in court”. Nefowa is a prominent runner in the countrywide ‘Fight for RERA’ campaign for last some years before the RERA bill was cleared and the Act formulated.