UP RERA Tightens the Rule for RERA Registration of the Project

UP RERA Tightens the Rule for RERA Registration of the Project

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4 month(s) ago

UP-RERA Tightens Regulations for Land Ownership and Promoter Consent. The Uttar Pradesh Real Estate Regulatory Authority (UP-RERA) has issued new guidelines to protect homebuyers and ensure transparency in real estate projects.

Here’s a breakdown:

  • Land Title and Owner Consent:

    • Promoters must now possess legal title to the land on which they plan to build a project.
    • If the land belongs to someone else, the promoter needs written consent from the owner for development and a registered joint development agreement (JDA).
  • Disclosure of Encumbrances:

    • Promoters are required to submit an affidavit declaring the project land free from encumbrances (restrictions on ownership).
    • Any existing encumbrances must be disclosed.
  • Protecting Buyer Rights:

    • These regulations ensure promoters can legally transfer ownership rights (with proportionate land share) to buyers upon project completion.
  • Clearer Project Registration Process:

    • UP-RERA previously directed using the same project name across all documentation (local authority maps, RERA registration).

These stricter guidelines aim to address situations where:

  • A promoter lacks legal ownership of the project land.
  • A promoter doesn’t have the landowner’s consent or a registered JDA.

In such cases, UP-RERA would struggle to approve project registrations and promoters might be unable to fulfill ownership transfer obligations to buyers.

Overall, these measures by UP-RERA promote a more transparent and secure real estate environment in Uttar Pradesh.

Disclaimer: The information herein is based upon information obtained in good faith from sources believed to be reliable. All such information and opinions can be subject to change. Furthermore, The image featured in this article is for representation purposes only. It does not in any way represent the project. If you wish to remove or edit the article or want to publish your news or article please email news@jvdeals.in

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