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The Uttar Pradesh Real Estate Regulatory Authority (UPRERA) has recently issued several new directives for real estate promoters to ensure transparency and protect home buyers' interests.
One key provision mandates that promoters must prove clear title to the project land while registering with UPRERA. If someone other than the promoter owns the land, written consent and a registered joint development agreement (JDA) must be presented. This is necessary as promoters can only legally transfer land shares and titles to allottees if they themselves hold title to the project land. Lack of title also creates issues in evaluating registration applications.
Promoters must now file an affidavit stating the land is free of encumbrances, or disclose any existing encumbrances.
Another directive requires project names on sanctioned maps, RERA registrations and marketing materials to be consistent. The decision comes in response to discrepancies observed between the names of projects and towers as registered with RERA and those mentioned in occupancy certificates (OC) or completion certificates (CC). Such inconsistencies have made it challenging for UP RERA to verify the completion status of projects and process applications for the closure of project accounts.
Often, project names promoted did not match registered names, confusing buyers. Promoters must now ensure names of projects, including towers and blocks, on sanctioned maps and RERA registration align. Development authorities have also been told to sanction maps in landowners' names, as the RERA Act requires promoters hold land titles. Through this, UPRERA also addressed a common issue where development authorities sanction maps in the name of entities other than the landowners.
RERA had to issue these directions in order to ensure the protection of the rights of the consumers and to facilitate the conveyance deed in their favour without any legal impediments. These initiatives are part of UP RERA's ongoing efforts to solve problems faced by allottees and stakeholders in the real estate sector. By ensuring consistency in project naming and ensuring clear land titles, UP RERA aims to eliminate confusion among allottees regarding the actual condition of projects, thereby fostering a more transparent and trustworthy real estate market.
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