UP-Rera approves 36 new realty projects in September

The Uttar Pradesh Real Estate Regulatory Authority (UP RERA) received 36 applications to register new residential and commercial realty projects in the month of September. The authority said that it is the highest number of applications received in a month since the formation of UP RERA in April 2017. It received 125 applications to register new projects in the first half of 2022.

According to the rules, a developer is required to register any new project with the authority and obtain a registration number before beginning construction work. RERA registers a project only if the developer gets the project map sanctioned by local authorities.

A number of these new realty projects are coming up in cities outside the national capital region. Earlier, 70% of new projects were from Noida, Greater Noida, Ghaziabad and Meerut, and the remaining 30% were from non-NCR cities like Lucknow, Kanpur, and Agra, RERA informed. “In September, 70% of new applications were from non-NCR towns and 30% from NCR towns,” Rajive Kumar chairman, UP RERA, said.

Out of 36 applications received in September this year, 24 were from non-NCR towns such as Lucknow, Agra, and Muradabad and the remaining from NCR towns including Noida, Meerut and Ghaziabad. The total cost of these residential and commercial projects is ₹3,648.35 crore and RERA has sanctioned 6931 residential and 1185 commercial units.

Source: https://www.hindustantimes.com/cities/noida-news/uprera-approves-36-new-realty-projects-in-september-101665772550059.html

UP RERA imposes penalty against 13 developers

The Uttar Pradesh Real Estate Regulatory Authority (UP RERA) has imposed penalty of Rs 1 crore 39 lakhs against 13 promoters after reviewing the status of compliance of its orders by the promoters.

The authority is making constant efforts to ensure enforcement of its orders and provide speedy justice to the aggrieved allottees. The action of penalty against the guilty promoters is an important step towards compelling them to comply with the orders of the authority.

The Authority, using its powers under section 38/63 of the RERA Act which empowers it to penalise the non-compliant promoters with up to 5% of the cost of the project, decided to impose penalty against

SRB Promoters Pvt. Ltd., Gardenia India Promoters Pvt. Ltd, AIMS Golf Town Developers Pvt. Ltd, MV Infrastructures and Housing Pvt. Ltd, Elegant Infracon Pvt. Ltd, Redicon Infrastructures Pvt. Ltd, Decent Buildwell Pvt. Ltd, Uttam Steel and Associate (Consortium), JSS Buildcon Pvt. Ltd, Earthcon Construction Pvt. Ltd, Opulent Infradevelopers Pvt. Ltd, Aura Buildwell Pvt. Ltd and Green Bay Infrastructures Pvt. Ltd.

The authority further directed the promoters to submit the compliance report of its orders within 15 days and deposit the amount of penalty within 30 days, otherwise the amount of penalty shall be recovered as arrears of land revenue.

“Uttar Pradesh RERA is continuously taking strict decisions against the insensitive promoters for protection of the interests of the home buyers. The Authority is fully committed to protect the interests of home buyers and, for this, the Authority is taking all possible steps to regulate the real estate sector of the state according to the RERA Act,” said Rajive Kumar, Chairman, UP RERA.

Source: https://economictimes.indiatimes.com/industry/services/property-/-cstruction/up-rera-imposes-penalty-against-13-developers/articleshow/94398656.cms

UP-Rera cancels Registration of 3 Ghaziabad Projects

The UP Real Estate Regulatory Authority (UP-Rera) this week cancelled the registrations of three real estate projects in Pratap Nagar area of the city after it found that the builder was unlikely to complete the construction in the stipulated time and had not followed some other norms.

About 1120 flats in 1504 housing units across the three projects — Antriksh Sanskriti Phase-2, Antriksh Sanskriti Phase-3 and Raksha Vigyaan Sanskriti Phase-2 — had been booked so far.

The Authority took the decision after complaints by several homebuyers, who alleged a delay in construction and said the builder had failed to deliver their houses despite several extensions in deadline.

“Under the powers of the UP-Rera Act, the builder has been declared a defaulter and this has been conveyed to Rera offices of other states and Union territories,” an Authority official said on Wednesday.

“It has been decided by the Authority to freeze the bank accounts linked to the projects to block any transactions. The builder’s access to the UP-Rera website has also been restricted,” the official added.

The Authority has now created a project advisory and monitoring committee – comprising officials of UP-Rera and the Ghaziabad Development Authority (GDA) — to complete the construction.

“The committee will work on a plan to complete the unfinished projects in the larger interest of homebuyers” the official cited above said.

Work on the three projects began in 2015, and was to be completed by July 2022 (both Antriksh Sanskriti projects) and June 2023 (Raksha Vigyaan Sanskriti). “But an onsite inspection found that the builder, under no circumstances, would be able to complete the remaining construction and development work,” the official added. Construction work had been completed around 30-40% in the Antriksh projects and it hadn’t even begun in the third project.

For Raksha Vigyaan Sanskriti Phase-2 project, land was provided to the developer to build the flats; of these, 32% are to be owned by a cooperative society, according to a homebuyer.

Other homebuyers said the builder had promised to deliver the flats years ago. “I had booked a 2BHK but the builder failed to hand it over and kept extending the deadline. It’s now that the UP-Rera has taken action against the builder,” said Sandeep Singh.

Source: https://timesofindia.indiatimes.com/city/ghaziabad/up-rera-cancels-registration-of-3-ghaziabad-projects/articleshow/92400117.cms

The RERA in the state has stepped in to help 600 odd buyers of a housing project left abandoned by the developer in sector 143 of Noida city

RERA steps in to complete an abandoned project in Noida Sector 143

The Real Estate Regulator Authority (Rera) in the state has stepped in to help 600-odd buyers of a housing project left abandoned by the developer in Noida Sector 143.

Launched in 2012, flats in Festival City were supposed to have been delivered by 2015. But the developer — M/s Mist Direct Sales Pvt Ltd — defaulted on the deadline and then stopped construction altogether. The buyers approached the UP-Rera, which sent notices to the developer. When it failed to respond, the regulatory authority blacklisted the developer and de-recognised the project. “Our next step was to take the consent of all the buyers and get the project completed. Two groups of buyers under Mist Avenue Buyers’ Association and Festival City Welfare Association showed interest in reviving the project,” said a Rera official.

The official quoted a provision from the Rera Act, which allows the regulatory authority to take the consent of the buyers and find another developer to complete a project.

But it’s a long way ahead for Rera in this case. The regulatory authority and the association of buyers are now faced with the challenge of collating the details of all the allottees who had booked a flat in the project and the total amount deposited by them. “The developer was not keen on sharing the information. Now that they have been blacklisted, we assume they might have gone underground,” the Rera official said.

The project has 1,600 units in total and Rera needs to have the consent of each and every one before going ahead with getting a developer to finish the flats. “Our efforts to get the details of the allottees from the Noida Authority proved futile. We have the consent of around 300 buyers, who are members of the two associations. But we need to track down the others and have their consent as well,” said Ravindra Sharma, president of the Mist Avenue Buyers’ Association.

Rera has now created a link on its official website where an allottee can upload documents to prove ownership of a flat. Once the data on the total number of buyers is collated, the Noida Authority will calculate the funds collected from the buyers and the estimated amount that can be raised from the unsold units. Rera will then hire a consultant to prepare a detailed project report. A developer will then be selected for the remaining project. “Only a DPR will give clarity on the money that will be required to complete the project and the amount that can be raised from the allottees and the sale of the remaining units. The new developer will have to complete the flats in a time-bound manner and Rera will oversee the project,” said Sharma.

Prashant Kanha, a Supreme Court lawyer who handles builder-buyer cases, said, “Section 8 of the Rera Act gives it powers that are seldom exercised. In this case, it is a novel exercise where the provisions are being used in the interest of the buyers.”

Spread across 25 acres off the Noida Expressway, Festival City was to be developed in three phases. “In the first phase, three towers of 35 storeys each were to be developed. But so far, only one tower has been developed. With the UP-Rera taking the initiative now, we are hopeful that the project will be completed in a timely manner,” Sharma said.

Source: https://timesofindia.indiatimes.com/city/ghaziabad/rera-steps-in-to-complete-an-abandoned-project-in-sec-143/articleshow/91243595.cms

Sending out a strong message to the developers who are yet to comply with its earlier orders, the Uttar Pradesh Real Estate Regulatory Authority (UP-Rera) has imposed a penalty of Rs 1.08 crore on seven developers.

Rera fines 7 developers over ₹1 crore for not handing over flats within deadline

Sending out a strong message to the developers who are yet to comply with its earlier orders, the Uttar Pradesh Real Estate Regulatory Authority (UP-Rera) has imposed a penalty of Rs 1.08 crore on seven developers.

All the seven builders have failed to deliver the units to their buyers within the stipulated deadlines. While four have projects in Noida, two are from Ghaziabad and one is based in Meerut.

TOI has learnt that UP-Rera chairman, along with the secretary and its three members, held a meeting on January 24 to review the status of its orders. At the meeting, they noticed that some developers, despite seeking additional time from the regulator to fulfil the obligations, failed to comply with the directions.

The buyers, meanwhile, kept filing their appeals before the Authority to get the due payment and allotment.

Invoking the Rera Act, the regulator slapped the highest penalty of Rs 35.41 lakh on Gardenia India Limited.

During an inspection in October last year at Rera’s behest, a team of experts visited the Gardenia Gateway project in Sector 75 that was to be completed in two phases. However, several anomalies were detected during the survey of the project and many amenities promised to the buyers remained incomplete.

Similarly from Ghaziabad, Sarvottam Realcon Pvt Ltd was asked to pay up Rs 27.08 lakh while Ansal Urban Condominiums has to deposit Rs 3.09 lakh.

Alpha Corp Development Pvt Ltd, which is developing a project on the Meerut-Muzaffarnagar highway has been asked to pay Rs 8.75 lakh.

In case the developers fail to deposit the penalty amount within 15 days, officials said, the regulator could issue recovery certificates against them and ask the local administration to attach their properties to recover the money.

In another development, the regulator has extended the deadline for developers to file the quarterly progress report of their projects by two months.

“They will now get time till February 28 to upload details on our portals,” said a Rera official.

Source: https://timesofindia.indiatimes.com/city/noida/rera-fines-7-developers-over-1-crore-for-not-handing-over-flats-within-deadline/articleshow/89167236.cms

The Uttar Pradesh Real Estate Regulatory Authority has appointed Delhi-based consultancy company, REPL as third party consultant to monitor physical and financial progress of three stuck projects in Greater Noida.

UP-RERA appoints REPL to monitor construction of three stuck projects in Greater Noida

The Uttar Pradesh Real Estate Regulatory Authority (UP-RERA) has appointed Delhi-based consultancy company, REPL (Rudrabhishek Enterprises Ltd.) as third party consultant to monitor physical and financial progress of three stuck projects in Greater Noida.

These projects were stuck and construction was resumed after the intervention of UP RERA who brought developers and homebuyers together to complete the project.

These include Casa Grande 2 of Earthcon Construction Pvt. Ltd; La Palacia of Newtech La Palacial Pvt Ltd; and Unibera Towers of Unibera Developers Pvt Ltd. Total number of units in these projects are 1925 and the estimated cost of completion will be approximately Rs 225.11 crore.

“Many projects are feasible but were stuck due to lack of funding. In some cases, both promoter and buyers approached us for solution. We have restarted construction of such project by forming a monitoring committee,” said Rajive Kumar, Chairman of UP RERA.

REPL will monitor the construction of remaining development work and report to authority as per overall project implementation plan.

“REPL has extensive experience of providing consultancy in real estate sector including its complete project life-cycle. We have similar assignments running on projects of various other developers by providing technical consultancy and PMC assistance,” said CMD of REPL, Pradeep Misra.

REPL will work with all the stakeholders, including the authority and flat owner associations.

“Our priority is to develop and implement proper monitoring & supervision mechanism for time-bound completion of remaining construction works on these projects,” Misra said.

According to Confederation of Real Estate Developers’ Associations of India (CREDAI), around 190,000 units amounting to a valuation of Rs 1 lakhcrore are stuck in Noida, Greater Noida and Ghaziabad.

In Greater Noida alone, at least 36 realty projects are facing insolvency proceedings.

This has impacted around 50,000 home buyers and blocked about Rs 7,000 crore worth of authority dues.

“REPL will review the tendering process, physical performance, and timelines. REPL will also review the fund utilization, and construction quality. Timely delivery of the assignment will bring relief for many people who were worried about their committed investments. We have already started mobilizing special teams on the project and expect to see the things rolling out on ground very soon,” said Satish Sehta (VP- Building Services, REPL).

REPL has been working as consultants for Real Estate projects across the country, including large scale residential townships, group housing, Hi-tech cities and commercial complexes. It is also involved in multiple smart cities, urban infrastructure, planning, GIS, metro, highways and water supply schemes. From UP RERA, it has deployed on similar projects of other builders which have got held-up in middle due to various reasons.

Source: https://economictimes.indiatimes.com/industry/services/property-/-cstruction/up-rera-appoints-repl-to-monitor-construction-of-three-stuck-projects-in-greater-noida/articleshow/88388977.cms

The Real Estate Regulatory Authority (RERA), Rajasthan, has disposed of almost 89.83% of the complaints received by the customer this year.

Rajasthan RERA disposed of 90% complaints from home-buyers this year

The Real Estate Regulatory Authority (RERA), Rajasthan, has disposed of almost 89.83 % of the complaints received by the customers this year.

This state is at the third position in the country to resolve the problems of the home-buyers. An official said, “The Rajasthan RERA received 1,484 complaints till Diwali, which were redressed by the authority.”

After the enactment and implementation of the Real Estate (Regulation and Development) Act, 2016, over 1,750 projects have been registered under RERA across the state. An official said, “For consumer protection, the regulatory body has made quarterly reports online and transparency in the system is ensured. The prospective buyer can take a comparative decision on buying a property after analysing the quarterly report of projects.”

“After the system was introduced, many people got aware and complained if there was an irregularity. RERA duly heard the complaint and redressed it on time,” the official added.

As per the mandatory provision, the promoter has to upload updates on the RERA website for the project at the end of each quarter on apartments/flats, status updates of each building, floor, internal infrastructure, and common areas construction. Other details, including information on approvals, bank account details, revision in plans, licence issues, permits or approvals for the projects also have to be displayed in a public forum.

Source: https://timesofindia.indiatimes.com/city/jaipur/state-rera-disposed-of-90-complaints-from-home-buyers-this-year/articleshow/87573457.cms

The state's Real Estate Regulatory Authority (UP-RERA) has disposed of almost 80% of the 38,569 complaints received.

UP Rera has in four years disposed of almost 80% of the 38,569 complaints received

Of the total complaints filed with different state real estate regulators, almost 40% are from UP. And amongst the UP complaints, more than half are from Noida, Greater Noida and Ghaziabad.

The state’s Real Estate Regulatory Authority (UP-RERA) has stepped in to address the situation. In four years, it has disposed of almost 80% of the 38,569 complaints received.

“RERA has brought back confidence in the real estate sector and homebuyers now know the project will get completed,” said Balvinder Kumar, member, UP-RERA. “Builders are also increasingly becoming disciplined knowing they are being watched.”

According to the authority, about ₹150 crore has been recovered against about 1,000 recovery certificates and transferred to the accounts of homebuyers.

Promoters and homebuyers have reached settlements in respect of recovery certificates amounting to about ₹300 crore, suggesting almost 33% of the demand in these recovery certificates has been settled, according to the authority.

There are 2,959 projects registered with UP-RERA, out of which 1,125 projects, or about 38%, have been completed.

The regulator has also registered 126 projects from outside planning areas under its special orders to protect the interests of consumers.

Promoters have been penalised for not registering projects or updating status.

Amit Modi, director at ABA Corp and president (elect) of industry association Confederation of Real Estate Developers’ Associations of India (Credai) Western UP, says experienced realtors have greatly benefited from the authority’s moves.

“RERA has also ensured that the funds allocated for the project are only utilised in project development, and the chances of delayed deliveries are kept in check and get significantly reduced,” he said.

“The push and motivation that it (UP-RERA) has provided to developers to complete their projects on time and provide quality work have provided an unsurmountable economic boost to this sector,” said Sanjay Sharma, director at SKA Group.

The authority had a special focus on stuck projects and in many cases it brought developers and homebuyers on a common platform and helped resume construction.

According to Credai, around 190,000 units amounting to a valuation of ₹1 lakh crore are stuck in Noida, Greater Noida and Ghaziabad.

“In some cases, the project is viable but is stalled because homebuyers were not confident of paying the balance amount to the builder. In such cases, we decided to monitor the project and have successfully resumed work on many projects,” Kumar of UP-RERA said.

During the first and second waves of the Covid-19 pandemic, the authority gave extension to builders to complete the projects. After the second wave, RERA identified 115 projects that will be given a nine-month extension, with the regulator monitoring the construction activity.

UP-RERA has also completed digitisation of various processes and set up e-courts. About 12,918 complaints have been registered through e-courts. Awareness in tier 2,3 cities and execution of its order is still a major challenge for RERA. And recovery has proved cumbersome. Of the close to 4,200 recovery certificates issued by the authority in four years, only 870 (20%) have been executed, where the penalty amount was recovered.

Source: https://economictimes.indiatimes.com/industry/services/property-/-cstruction/up-rera-has-in-four-years-disposed-of-almost-80-of-the-38569-complaints-received/articleshow/87335515.cms

The district administration will soon initiate a drive to recover dues from private developers who have defaulted on payments.

Soon, a drive to recover Rs 400cr dues from builders

The district administration will soon initiate a drive to recover dues from private developers who have defaulted on payments. More than 80 private developers are under the radar and a sum of about Rs 400 crore has to be collected from them, officials have said.

Various government agencies, including the UP-Rera, the Noida Authority and the Greater Noida Authority, have already issued recovery certificates against these developers after having failed to recover dues from them. However, the recovery certificates will have to be executed by the district magistrate as per the UP Revenue Code.

The administration had, in fact, put its plan on hold for a while as it was busy with the management of Covid-19 patients and the rehabilitation of families displaced by the Noida International Airport project. “But now things are now under control and our officials have time to finish the legal proceedings,” a senior administrative officer told TOI.

If a promoter fails to comply with the order of the adjudicating officer of the real estate regulator or is unable to settle the payment towards the land to the holding authority, the unpaid revenue becomes arrears and the developer is designated a defaulter. The district administration has the power to attach the properties and assets in the name of the defaulter.

Additional district magistrate (finance) Vandita Srivastava said that action against 32 defaulters has been initiated so far and assets worth about Rs 350 crore have been recovered or attached. “Majority of the defaulters are based out of Dadri. The sub-divisional magistrate of Dadri will soon identify the other defaulters and attach their properties. We have seven more months in this fiscal to recover the dues.”

Source: https://timesofindia.indiatimes.com/city/noida/soon-a-drive-to-recover-rs-400cr-dues-from-builders/articleshow/85502783.cms

The Uttar Pradesh Real Estate Regulatory Authority has decided to extend the deadline for around 100 projects in Noida, Greater Noida and Yamuna Expressway, including Ghaziabad, by two years, to help the pandemic-hit realty sector.

UP-Rera extends deadline for 100 realty projects in Noida and Greater Noida

The Uttar Pradesh Real Estate Regulatory Authority (UP-Rera) has decided to extend the deadline for around 100 projects in Noida, Greater Noida and Yamuna Expressway, including Ghaziabad, by two years, to help the pandemic-hit realty sector.

The decision followed several representations from developers requesting an extension. However, the authority granted the extension on the condition that the developers get the validity of their projects’ maps too extended from their respective authorities.

According to the real estate rules, a developer gets a maximum of seven years to build and deliver a project from the time it gets all necessary approvals. But officials said that the UP-Rera, a quasi-judicial body, had powers to grant an extension under section 8 of the UP-Rera Act.

“In the interest of homebuyers, we have offered an extension of two years for these 100 projects in view of Covid-19 that disrupted work in 2020 and 2021. If any builder needs more than two years, that too can be considered provided they obtain consent from their homebuyers’ association,” said Balvinder Kumar, member of UP-Rera.

Around 200 projects have been delayed across Uttar Pradesh, said the authority officials.

Homebuyers said that the UP government should ensure that their flats are delivered.“The delay has been long and hard. It is high time that the government came forward with a comprehensive policy to address our woes,” said professor Rajesh Sahay, secretary, Noida Federation of Apartment Owners Associations.

Developers also welcomed the move. “The government should also help developers get additional funding to finish the projects in view of the crisis due to Covid-19,” said RK Arora, president of National Real Estate Development Council.

Source: https://www.hindustantimes.com/cities/noida-news/developers-in-noida-ghaziabad-get-two-years-more-to-deliver-flats-101627843522231.html