RERA Uttar Pradesh

RERA Uttar Pradesh

In 2016, the Indian Government introduced RERA with the aim of boosting investments in real estate and safeguarding the rights of property purchasers. The Uttar Pradesh Real Estate Regulatory Authority (UP RERA) has played a pivotal role in simplifying real estate transactions and enhancing transparency. It advocates for standardized practices, swift resolution of complaints, and timely project completion.

The UP RERA website went live on July 26, 2017, facilitating property buyers and sellers in voicing their concerns. According to the act, real estate agents and developers can easily register themselves and homebuyers can access essential information about builders and projects on the official UP RERA website.

Why You Should Prefer RERA Approved Projects in Uttar Pradesh

The Uttar Pradesh Real Estate Regulatory Authority has introduced significant reforms to the state's real estate industry. Here are the advantages of implementing RERA in UP:

•  Informed Decisions: The act helps you get all the details you need – from layouts and timelines to construction progress – before you invest. It also keeps you informed about the latest updates through the online website.

• Pay Only for What You Get: Standardized carpet area calculations ensure consistent pricing across builders. You get to focus on the usable space you'll enjoy, not hidden costs for common areas.

• Secure Investment: A significant portion of your funds are held safely in an escrow account until construction milestones are met, minimizing financial risk.

• Empowerment throughout the Process: You can access all project information readily. If issues arise, a dedicated authority is there to address your concerns, minimizing financial and emotional stress.

• Quality You Can Trust: Builders are accountable for fixing structural defects for 5 years after possession, ensuring your property's long-term value.

• Fair Payment Structure: Limited upfront payments before the sale agreement protect your finances. Interest rates for delayed payments are the same for both you and the builder.

How to Check whether the Project is RERA Approved in Uttar Pradesh

Here's a simple guide to check projects registered with UP RERA:

• Step 1: Go to the official UP RERA website.

• Step 2: Click on the "Projects" tab at the top of the page, which should lead you to a new page.

• Step 3: Log in using your user ID and password.

• Step 4: Fill in basic project details like the project name in the provided text fields. This will yield important information such as the project's RERA registration number and its status.

• Step 5: Once you've entered the project details, click on the "View Detail" tab next to the project name to access comprehensive information about that specific project. 

You'll also have the option to view the complete project summary and other relevant details.

How to Register a Complaint under RERA in Uttar Pradesh

Follow these steps to register a complaint under RERA in Uttar Pradesh:

• Step 1: Go to the official UP RERA portal and navigate to the “Complaint” section.

• Step 2: Fill in the required details and upload scanned copies of necessary documents.

• Step 3: Pay the relevant fee and submit the complaint.

• Step 4: Once submitted, wait for the authorities to take action and begin resolving the complaint.

How to Pay Property Tax Online

Most municipalities now allow property owners to pay their property taxes online. This is usually the most convenient way to pay your property taxes, as you can do it from anywhere and at any time.

Here are the steps to pay property tax online:

• Step 1: Visit the website of your local municipal authority and log in or create an account.
• Step 2: Open the property tax payment section and enter your property tax account number.
• Step 3: Fill in the property tax form and choose your assessment year.
• Step 4: Review your property tax bill and make sure the information is correct.
• Step 5: Select a payment method and submit your payment. Upon successful payment, you will receive an e-challan.

People Also Ask

Here are some of the frequently asked questions about RERA Uttar Pradesh:

1. What are the key provisions of RERA in Uttar Pradesh?

Given below are the key components of UP RERA:

• Registration of real estate projects
• Establishment of a regulatory body
• Responsibilities and duties of the Regulatory Authority
• Resolution of disputes
• Penalties for non-compliance

2. What are the penalties for non-compliance with RERA in Uttar Pradesh?

Section 63 of the RERA Act grants the authority the power to levy penalties of up to 5% of the project's cost for failing to comply with its directives.

3. Are there any ongoing projects exempt from RERA in Uttar Pradesh?

All rules and regulations established by UP-RERA apply to both ongoing and future projects, as well as their builders and property dealers. Nevertheless, there are specific cases in which property dealers or builders are exempt from following these rules.

4. What does the latest real estate law entail? 

The latest real estate law, known as the Real Estate (Regulation and Development) Act (RERA), was passed in India in 2016. Its primary objectives are to enhance transparency, safeguard the interests of home buyers, and oversee the operations of the real estate sector.