UTTAR PRADESH RERA COMES DOWN HARD ON 36 ERRANT REAL ESTATE PROJECTS

In a recent development with regards to the field of real estate in Uttar Pradesh, the Real Estate Regulatory Authority has rejected applications of nearly three dozen real estate residential and commercial projects located in the cities of Lucknow, Gautam Buddha Nagar, Ghaziabad, Varanasi, Agra, Bareilly and Meerut. This was because the concerned developers for these projects had not completed the formalities and the requisite documentation that is required for registering a project. These errant developers are now required to reapply for the RERA registration.

The UP RERA found many loopholes in the application made by the developers and they were also of the opinion that the developers had not met the requisite standards that have been put forth by the authority in the state of Uttar Pradesh. In many cases, the maps had not been passed and in others the land title was surprisingly not in place. Amongst the four commercial and 32 residential projects is the Tech Zone Phase 1 and Tech Zone Phase 2 projects by Ascot Projects Private Limited located in the city of Gautam Buddha Nagar. The other applications which were also rejected included the likes of Vaishno Enclave project located in Gautam Buddha Nagar, Paramount Floraville (C and F Towers) by Paramount Propbuild Private Limited also located in Gautam Buddha Nagar. These projects were rejected as the completion certificate for the projects had not been uploaded and the validity of the uploaded maps had also expired. They further rejected projects by Paramount Propbuild Private Limited as a valid sanction letter and layout plans had not been uploaded by the promoters of the project. The real estate authority has also rejected the application for Jaipuria Sunrise Greens which is located along NH-24 in Ghaziabad because the validity of the sanction letter had expired.

UP RERA has decided to adopt a stringent approach towards the real estate developers as they had earlier been given a free hand and didn’t really have to strictly adhere with the building bye laws and other regulations that existed in the state prior to the implementation of RERA and the setting up of a designated authority to look into real estate matters. Thus, developers would now have to walk a straight line and comply with regulations that have been put forth by the real estate authority in the state so that they can carry on the development of their respective real estate projects.

Disclaimer – Please note that the above articles is based on the interpretation of related laws and judicial pronouncement which may differ from person to person. The reader are expected to take the expert opinion on the matter.

 

 

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