Skip to main content

UP-RERA issuing Strict Guidelines to help Homebuyers take action against Defaulting Builders

 

                                                                CA Ramesh Agrawal 

The Uttar Pradesh Real Estate Regulatory Authority (UP-RERA) is coming out with a set of Standard Operating Procedures (SOPs) for home buyers. These SOP are a set of guidelines to be followed by homebuyers if they find out any builder is not honouring the orders of the Authority . Soon the SOP List will be uploaded on UP-RERA Website.

 At the moment there are 65 defaulting developers in the state. UP RERA has passed many Orders in favour of lot of homebuyers but defaulting builders have not bothered to comply to the orders.

 UP-RERA is looking for an auction house backed by government to trade off the properties which has been secured from defaulter builders for refunding to the buyers, though only 4 builders have disclosed their assets out of the 65 defaulter builders so far.

Many builders have ignored the orders of UP-RERA, compliance deadlines have been reinforced on builders and the regulator claims to be have started making individual follow-ups to see that each order is enforced.

Each registered builder has a dashboard on UP-RERA Website on which they update their compliance details. Soon regulatory will reinforce some measures so that the remaining builders comply with the orders.


Labels:

Comments

  1. Ra8 September 2020 at 09:19

    Why Haryana not taking any action on TDI Infrastructures Ltd. for fraudulently misusing investors funds and not developing its TDI city in Sonepat. I am sure HUDA officials are taking regular bribe and administration is asleep. Chief Minister must immediately take strict action on HUDA officials.

    ReplyDelete

Post a Comment

Popular posts from this blog

RERA Awards Rs. 65 Lakhs Compensation to Homebuyer for 9 Years Delay in Flat Possession

  CA Ramesh Agrawal In a recent decision, the Haryana Real Estate Regulatory Authority (HRERA) has directed a builder to compensate a homebuyer with ₹65 lakh for an inordinate delay of over nine years in handing over a flat in Gurugram. Key Highlights: Background of the Case : The homebuyer had booked a flat in 2013, with the developer promising possession within a stipulated timeframe i.e., 7 th December 2015. However, the possession was delayed by more than nine years. Developer's Justifications : The builder attributed the delay to unforeseen circumstances, including the COVID-19 pandemic, the demise of the chairman of environmental impact assessment (EIA) committee, and inadequate water supply. H-RERA's Verdict : After reviewing the case, HRERA rejected the developer's justifications, deeming them insufficient to warrant such a prolonged delay. The authority emphasized that the reasons cited did not qualify as fo...
Post a Comment
Read more

Supreme Court Ruling Warns Homebuyers: Registration Is Not Ownership

CA Ramesh Agrawal The Supreme Court in a significant ruling has stated that only registering a property does not make someone its legal owner. The judgement, delivered in the Mahnoor Fatima Imran vs M/s Visweswara Infrastructure Private Limited case, has direct implications for millions of Indian homebuyers and investors. If someone has bought a property solely based on a registered sale deed, then have a look at the below points.   Understanding the Law: Registration Does Not Equal Ownership “Ownership of a property comprises several aspects, of which registration is only one,” says Mr. Harsh Parikh, partner at a Law Firm, Khaitan & Co. Under Indian law, properties above Rs. 100 require registration, but that’s not all. “A buyer must also prove full payment, possession, and custody of original title documents,” he explains. Chairman and Director of Prime Developments, Mr. Rakesh Malhotra stated that “Registration provides prima facie evidence of a transaction, but it doesn’t c...
Post a Comment
Read more

Municipality Demolishes Illegal & Unsafe Structures

  CA Ramesh Agrawal The Sambhajinagar Municipal Corporation (CSMC) has started an anti-encroachment campaign, to keep the city clean, safer, free up public space, etc. Details of the same are mentioned as below: - Drive Moves To Gulmandi Area: - After cleaning up areas like Beed Bypass and Mukundwadi, now the clean campaign has moved to Gulmandi area, which is busy & crowded market zone. The move shows that the Authorities are serious for removing illegal building all across the city. Illegal Constructions & extension demolished: - The Authorities have targeted illegal buildings & extension of around 25 Shops in bustling Rangar Galli Market & its surrounding areas. During the operation demolition of a run-down building was carried out with the presence of police. Ongoing Efforts : - Additional Municipal Commissioner, Mr. Santosh Wahule explained that this campaign in Gulmandi was carried out on the instructions of the Civic Chief G. Sreekanth. This clean campaign ...
Post a Comment
Read more