UP RERA: Registering a new project in UP RERA will not be easy, know what has changed

UP RERA: Registering a new project in UP RERA will not be easy, know what has changed
Greater Noida : It will not be easy for builders to register new projects in UP RERA. For registration, the builder will have to give full details of himself as well as the partners in the project. UP RERA will approve the project only after all the verification and on-site inspection. It is believed that with this change in the rules, it will be difficult for the builders to run away from the responsibility of completing the project. Also, the chances of buyers getting trapped will be less. On the other hand, if we talk about action, if a builder leaves the project midway, action can be taken against his partners.

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RERA President Rajeev Kumar said that in the new rules, now the agreement between the land and the developer company will also have to be registered in case of separation. Names, addresses, family details, phone numbers of all the partners in the company will have to be given during project registration. RERA will verify all these details at its own level. If the information is found correct, the project will be registered after site inspection.

2000 projects stuck

He told that there are about 2000 projects in other districts of the state including Noida, whose construction work is much late than the deadline. Many builders are trying to escape the responsibility by abandoning the stuck projects or taking them into insolvency process and trying to register new projects with RERA by opening a company with a new name. This new system will curb all these.

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