The Uttar Pradesh Real Estate Regulatory Authority (UP RERA) has completed the digitisation of various processes that have to be followed by the real estate developers. The salient feature of the RERA is that it provides a consumer redressal body in the real estate as the government body against a builder. It covers both commercial and residential real estate transactions.
The RERA law empowers the consumers. It directs the builder to declare a public-project plan, layout, government approvals, land title status, schedule for completion, sub-contractors to the project to both RERA and consumers. Any violation of the order of the appellate tribunal has a maximum jail term of 3 years with or without a fine. Shri Rajive Kumar is presently the Chairman of UP RERA. The developer comes within the penalty net for any delay in the project to the quantum of EMI being paid by the consumer.
In order to reduce the regulatory and compliance burden on the state government for the purpose of promotion of investment by the Department of Industry Promotion and Internal Trade, Government of India, an action plan for the digitization of 10 forms was issued under the Uttar Pradesh Real Estate (Regulation and Development) Rules, 2016, of which 7 forms were already online on the web portal of UP RERA, the remaining 3 were made online on July 16. To reduce the problems of homebuyers during the Covid-19 pandemic, e-courts have been set up by the Authority.
