UP-RERA has given approval to 13 real estate projects across different districts of Uttar Pradesh with a cumulative investment of over ₹3,052 crore. The approved residential and commercial developments are expected to support construction activity and related industries across the state.
As per the report by UP-RERA, the maximum number of approvals comes from Ghaziabad, where there are four projects worth ₹1,936.72 crore. Out of these four projects, there are three commercial projects and one residential project, totalling nearly 2,200 units.
Ghaziabad recorded the highest share of approved investments among all districts whereas Gautam Buddh Nagar obtained approval for building a commercial complex valued at ₹420.50 crore, which consists of 855 commercial units. Two projects with an outlay of ₹246.94 crore combined have been sanctioned for Agra. Both projects would provide a total of 797 residential units. Two projects worth ₹216.14 crore and consisting of 364 residential units have been sanctioned for Lucknow. Some of the other approvals include a commercial project in Mathura worth ₹10.28 crore with 81 units, a residential project in Varanasi worth ₹41.12 crore with 131 units, a residential project in Prayagraj worth ₹102.69 crore with 241 units, and a residential project in Barabanki worth ₹78.34 crore with 104 units.
According to the authority, the newly approved projects are expected to serve as an impetus for the growth of the real estate industry; on the other hand, they will also be beneficial for other industries such as construction materials, engineering, transport, architecture, and financing. Separately, UP-RERA has requested consumers, promoters, and allottees to use the online portal of UP-RERA to trace the status of their complaints and certificates of recovery. According to UP-RERA, there are many consumers who do not know about the fact that they can trace their complaints and certificates of recovery using the online portal of UP-RERA.
In accordance with the provisions of the Real Estate (Regulation and Development) Act, 2016, in case of any contravention of the said act or any rule made thereunder, a complaint may be filed by the complainant to the relevant authority. Under the UP-RERA Act, an application can be filed online by selecting the appropriate category, uploading all the required documents like allotment letters, builder buyer agreement, payment receipts, etc., along with the fee of Rs. 1,000. Once the application is submitted, a reference number will be provided to the applicant.
The authority also stated that the affected parties may choose to monitor the issuance of the recovery certificates in case of delayed possession, refund, registration and interest payment to be made by the promoter. Recovery certificate is an instrument that is issued against the defaulting developer.
In another advisory by UP-RERA, buyers are advised to check details about projects that can be obtained from its official website before taking any decision on booking or buying. Buyers must be advised to check for details regarding the title of the land, approved layouts, sanctioned maps, stocks, and complaints against the developers. In addition, the authorities informed prospective purchasers that they should not depend solely on the marketing advertisements and promises made by the developers and the salespersons but rather rely on the information provided on the website.
Sanjay Bhoosreddy said the promoters were supposed to adhere to the time lines of the project and other regulations, whereas the owners of the apartments were able to access the web portal provided by the authorities and decide on their property.
