UP Rera, short for Real Estate (Regulation and Development) Act in Uttar Pradesh, is a legislation enacted to regulate and promote transparency in the real estate sector in the state of Uttar Pradesh, India. RERA UP is a state-specific adaptation of the national RERA Act, customised to address the unique challenges and requirements of the real estate market in Uttar Pradesh.
The primary objective of RERA UP is to protect the interests of homebuyers and promote fair practices in the real estate industry. It aims to bring transparency and accountability in the sector by ensuring that real estate projects are registered, promoters adhere to project timelines and specifications, and buyers’ rights are safeguarded. The act also establishes a regulatory authority to oversee the implementation of the legislation and provides mechanisms for grievance redressal.
RERA UP has had a significant impact on the real estate sector in Uttar Pradesh, instilling confidence among buyers and investors, streamlining market operations, and promoting timely project delivery. However, challenges such as implementation issues and the potential impact on smaller developers need to be addressed to ensure the effective functioning of RERA UP.
Also Read: Punjab Rera: All about Punjab Rera – Registration, Fees
Need for RERA in India
The need for RERA in India arose due to various issues that homebuyers faced in the real estate sector. Before the implementation of RERA, the sector was largely unregulated, and developers had a free hand in determining prices and delivery timelines of their projects. This resulted in several issues such as delayed possession, lack of transparency, and fraudulent practices.
The absence of a regulatory framework made it difficult for homebuyers to hold developers accountable for their actions. There were several instances where homebuyers had to face financial losses due to delayed possession or non-delivery of projects. The lack of transparency also made it difficult for homebuyers to make informed decisions.
The need for RERA was felt to address these issues and provide a regulatory framework for the real estate sector. RERA aims to bring transparency and accountability in the sector, ensure timely delivery of projects, and protect the interests of homebuyers. It provides a platform for homebuyers to file complaints against developers and seek redressal for their grievances.
Also Read: RERA Rules in India – Fees, Key Provisions
Objectives of UP RERA
The objectives of UP RERA are as follows:
- Ensuring Transparency In Real Estate Transactions.
- Protecting The Interests Of Homebuyers.
- Establishing a Regulatory Authority For The Real Estate Sector.
- Ensuring Timely Completion Of Real Estate Projects.
Ensuring Transparency In Real Estate Transactions
UP RERA aims to bring transparency in the real estate sector by ensuring that developers disclose all relevant information about their projects to homebuyers. This includes details such as the size of the project, the number of units, the status of approvals, and the timeline for completion.
Protecting The Interests Of Homebuyers
UP RERA seeks to protect the interests of homebuyers by ensuring that developers deliver projects on time and adhere to quality standards. It provides a platform for homebuyers to file complaints against developers and seek redressal for their grievances.
Establishing a Regulatory Authority For The Real Estate Sector
UP RERA is responsible for regulating the real estate sector in Uttar Pradesh. It ensures that developers comply with the provisions of the RERA Act and takes action against those who violate the rules.
Ensuring Timely Completion Of Real Estate Projects
UP RERA aims to ensure that developers complete their projects on time. It sets timelines for the completion of projects and imposes penalties on developers who fail to meet these timelines.
Key Provisions of UP RERA
The key provisions of UP RERA are as follows:
- Registration of Real Estate Projects.
- Establishment Of A Regulatory Authority.
- Duties and Responsibilities Of The Regulatory Authority.
- Adjudication of Disputes.
- Penalties for Non-Compliance.
Registration of Real Estate Projects
Developers are required to register their projects with UP RERA before advertising or selling them. They must provide all relevant details about the project, such as its size, location, timeline for completion, and the status of approvals.
Establishment Of A Regulatory Authority
UP RERA has the power to establish a regulatory authority for the real estate sector in the state. The authority is responsible for enforcing the provisions of the RERA Act and ensuring compliance by developers.
Duties and Responsibilities Of The Regulatory Authority
The regulatory authority established by UP RERA is responsible for maintaining a database of registered projects, ensuring that developers adhere to quality standards, providing a platform for homebuyers to file complaints against developers, and adjudicating disputes between developers and homebuyers.
Adjudication of Disputes
UP RERA provides a mechanism for homebuyers to file complaints against developers and seek redressal for their grievances. The regulatory authority is responsible for adjudicating these disputes and imposing penalties on developers who violate the rules.
Penalties for Non-Compliance
Developers who fail to comply with the provisions of UP RERA can be penalized by the regulatory authority. The penalties may include fines, cancellation of registration, or imprisonment.
Impact of UP RERA
The impact of UP RERA has been significant in the following ways:
Increased Transparency
UP RERA has brought in more transparency in the real estate sector in Uttar Pradesh by requiring developers to provide all relevant details about their projects before advertising or selling them. This has helped homebuyers to make informed decisions about their purchases.
Protection Of Homebuyers
UP RERA has provided a platform for homebuyers to file complaints against developers and seek redressal for their grievances. This has helped to protect the interests of homebuyers and provided them with a mechanism to hold developers accountable.
Timely Completion Of Projects
UP RERA has set timelines for the completion of real estate projects and imposed penalties on developers who fail to meet these timelines. This has led to an increase in the timely completion of projects, which has benefited both homebuyers and developers.
Increased trust in the real estate sector:
UP RERA has helped to increase trust in the real estate sector in Uttar Pradesh by providing a regulatory framework for developers to operate in. This has helped to attract more investment in the sector and led to its growth.
How to Check Registered Projects on UP RERA?
It is recommended to review the registered initiatives on the UP RERA website to avoid future discrepancies. Visit the official UP RERA website to perform the action with ease. Once on the website, select the Registered Project from the links labelled Important. You will be prompted to fill in details such as Project Name, Registration Number, and Promoter before entering Captcha on a new page. Now, select Search and View Details to examine the project’s specifics. Additionally, you can choose to obtain the project summary or additional information.
How to Check Registered Promoters or Agents on UP RERA?
To view a list of enrolled Promoters or Agents, visit the UP RERA website and navigate to the Important links section on the homepage. To check the list of Promoters, click Registered Promoters; to check the list of agents, click Registered Agents. Then, enter the necessary information, such as Promoter/Agent Name, District, Tehsil, etc. Then select Search. On-screen information pertaining to agents or promoters will be displayed.
How to Check the Defaulter Project list on UP RERA?
To view the list of defaulting projects on UP RERA, you must visit the RERA UP website and navigate to the Important Links section. Then, select on Deregistered Projects to view a list of deregistered projects, complete with project registration number, project name, location information, promoter’s name, and photo.
How to Register a Project under UP RERA
Follow these steps to become a Promoter..:-
- Step 1: Go to the page for UP RERA.
- Step 2: From the menu bar, click “Registrations,” then click “Promoter” from the drop-down menu.
- Step 3: Enter the phone number and one-time password (OTP) that you will get on your phone. After that, click on Verify.
- Step 4: A new web page will open where marketers can sign up. On that page, you can put your name, phone number, address, PAN number, Aadhaar number, and other information. After a supporter is signed up, a project can be signed up.
- Step 5: Go back to the home page and click on Registrations, then Project. Now, you will be sent to a new page where you can log in. Choose a User Type, Username, Password, Enter Captcha, and click on Log in.
- Step 6: Now, a form will pop up. Fill it out with all the necessary information and pay the registration fees online. Then, the registration will be done.
How to Register as an Agent under RERA UP
Follow the steps below to sign up as an agent with UP RERA:
- Step 1: Go to the UP RERA website and click on Agent under Registrations.
- Step 2: Type in all the necessary information, such as your Aadhar number, proof of address, personal information, bank information, etc.
- Step 3: After that, click Save and Pay. The payment page will open, and you can pay online with your credit card, debit card, NEFT, RTGS, or UPI.
UP RERA: Details Required By Builder Under RERA UP
When registering a house under RERA, a builder will need a set of information. These are the things that will be needed:
- How many apartments need to be listed in total Apartment type.
- The apartment’s carpeted area.
- If you add something or make a big change, you have to get the people who will be touched to sign a form.
- The developer will have to update the RERA website every three months with information like waiting approvals, inventory, and more.
- When the job will be done.
- Make sure the ads don’t make any promises that can’t be kept.
UP RERA Fees and Charges
Following are the UP RERA registration charges for agents:
| Agent | Registration fee | Renewal fee |
| Individual | Rs.25,000 | Rs.5,000 |
| Other than Individual | Rs.2,50,000 | Rs.50,000 |
Registration fees for Promoters
| Project type | Area | |
| Up to 1,000 Sq. m. | More than 1,000 Sq. m. | |
| Residential project | Rs.10 per Sq. m. | Rs.500 per 100 Sq. m. |
| Commercial project | Rs.20 per Sq. m. | Rs.1,000 per 100 Sq. m. |
Other Charges in UP RERA
There will be a few other costs to pay, depending on what you want. These could be a complaint, a withdrawal of an application, or an appeal. Costs for the same are as follows:
| Particulars | Fees |
| Any appeal under subsection (1) under Section 44 | Rs.1,000 |
| Complaint against anyone | Rs.1,000 |
| Withdrawal of application for registration | Rs.50,000 or up to 10% of the registration fee, whichever is higher. |
Documents Required for Registration Under UP RERA
To register a project under RERA UP, a marketer must send scanned copies of the following documents::-
- PAN Card
- Previous year’s Balance sheet
- Last three years’ Income Tax Returns
- Project Plan copy
- Number of parking areas in the project
- The title deed of the promoter or land
- Encumbrance Certificate of the project or land on which the project is built
- Collaboration agreement or joint agreement
Conclusion
In conclusion, UP RERA has been a significant step towards regulating the real estate sector in Uttar Pradesh. The Act has provided greater transparency and protection to homebuyers, while also imposing penalties on developers who violate the rules and regulations. Despite the challenges faced by UP RERA, its impact has been positive in ensuring timely completion of projects, increasing trust in the real estate sector, and protecting the interests of homebuyers. Continued efforts are needed to address the challenges faced by UP RERA and ensure its effective implementation in the state. Overall, UP RERA serves as a model for other states in India to regulate the real estate sector and protect the interests of homebuyers.
FAQs
How does RERA UP benefit Homebuyers?
RERA UP benefits homebuyers by providing transparency in project information, ensuring timely project completion, protecting buyers from fraudulent practices, and providing mechanisms for grievance redressal in case of disputes.
How Can Homebuyers Register Complaints Under RERA UP?
Homebuyers can register complaints under RERA UP by submitting their grievances to the regulatory authority established under the act. The authority is responsible for resolving disputes and taking appropriate action against non-compliant promoters or developers.