Tag: uprera

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 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

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. 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 (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

Owing to the rising number of COVID-19 cases in the state, the Uttar Pradesh Real Estate Regulatory Authority has deferred the option of physical hearing of complainants.

It has now proposed to start physical hearing of complaints from May 1, 2021.

“It is to be noted that UP RERA in its 59th meeting on March 19, presided over by its Chairman Rajiv Kumar, had decided to provide the opportunity of physical hearing to parties concerned on their request with effect from May 1, 2021 subject to strict compliance of Covid protocol as applicable,” said a release.

For the time being, the UP RERA will continue to hear cases virtually.

UP RERA has been hearing complaints through virtual mode under the e-courts system in order to maintain social distancing norms amid the novel coronavirus pandemic.

“Further decision about offering the option of physical hearing to parties will be taken in future depending on the situation of the pandemic and directions of Central and state governments in this regard,” said the UP RERA release.

Source: https://www.dailypioneer.com/2021/state-editions/up-rera-defers-physical-hearing-of-cases-till-april-end.html

Home buyers of the Greater Noida Industrial Development Authority (GNIDA) project Omicron 1 have mounted legal challenge against the government agency for having failed to deliver the project on time, and also for demanding extra charges over and above the agreed price and against the contractual obligation that does not have any escalation clause.

One of the aggrieved buyers, Neelam Tandon, after having made several reminders to the agency, had approached the Real Estate Regulatory Authority (RERA). She was subsequently asked by the RERA Authority to take possession of the delayed project and directed the government agency to pay delayed interest from January 30, 2017 at the rate of MCLR+1 per cent till the offer of possession.

The buyer has now challenged the RERA judgment before the RERA Appellate, since Section 18 of RERA states that the buyer has a right to demand refund with interest if the project has not been delivered on time.

Disputed properties

Tandon is one of the buyers scheduled to get the possession by January-end 2017 but was offered the possession only in July, 2019. Moreover, she was also asked to pay an extra fee of more than ₹5 lakh, over and above the total cost, as agreed in the contract.

GNIDA is home to one of the most disputed property markets of the country. The government agency has the mandate of regulating the private builders and giving occupancy/completion certificates on the merits of the project. However, the agency itself has failed to complete the project on time and offer the buyers possession within the agreed time and price.

According to Tandon’s counsellor Shivam Tyagi, the GNIDA, that should ideally set the precedent of how private builders should operate, seems to be inspired by the wrongdoings of the builders in this case.

Source: https://www.thehindubusinessline.com/business-laws/buyers-mount-legal-challenge-against-delayed-greater-noida-home-project/article34239326.ece

The Uttar Pradesh Real Estate Regulatory Authority (Rera) will organise a National Lok Adalat online starting on April 10 to address the disputes between home buyers and developers and reduce the pending cases. This is the first time that a lok adalat is being organised to resolve the issues faced by the real estate sector.

Officials of the UP Rera will hold the lok adalats online from the Lucknow and Greater Noida offices on April 10, July 10, September 11 and December 11.

According to UP Rera officials, there are around 6,500 pending cases. Around 70% of these cases are from Noida, Greater Noida, Yamuna Expressway and Ghaziabad areas while the remaining are from Lucknow.

Issues like parking space, flat size, flat cost escalation, interest waiver and refund of investment among other issues would be sorted out at the lok adalats, said the officials.

The UP state legal service authority had asked Rera to hold the lok adalats following directions from the National Legal Service Authority headed by the Chief justice of the Supreme Court.

“The homebuyers can file an application on the UP Rera’s portal and get their cases settled. The National Lok Adalat is an effort to provide speedy justice to home buyers. If this initiative runs smoothly, we can organise lok adalats next year too. We want to know how beneficial this exercise is going to be for consumers,” said Anand Shukla, legal advisor to UP Rera and nodal officer of the lok adalat.

The complaints filed under sections 31 and 63 of Rera Act and the cases where a settlement is possible on the basis of reconciliation agreement will be taken up for hearing in the lok adalats.

“Through the lok adalats, homebuyers will get a transparent amicable settlement and speedy disposal of their cases,” said Rajesh Kumar Tyagi, secretary of UP Rera.

The UP Rera will send the link for online hearing of the cases to the complainant buyer and the realtor before the first lok adalat on April 10.

“We hope realtors will take this initiative seriously, join the lok adalat and solve the issues being faced by the home buyers,” said Abhishek Kumar, president of Noida Extension flat owners’ welfare association.

The Confederation of Real Estate Developers Association of India (Credai) is hopeful of the lok adalats leaving a positive impact. “The cases pending before Rera should be solved via mutual agreement. Realtors should use this opportunity and solve disputes as it will help boost the real estate sector,” said Prashant Tiwari, president of Western UP’s wing of Credai.

Source: https://www.hindustantimes.com/cities/noida-news/uprera-to-hold-lok-adalat-on-april-10-to-address-grievances-101616780429847.html

The Uttar Pradesh Real Estate Regulatory Authority (UP-RERA) has imposed penalties under Sec-63 of RERA upon Supertech, Mahagun India, Ansal Properties and Infrastructure, Logix Infrastructure, among others for the non-compliance of the orders of the authority.

Penalties worth a total of Rs 1.24 crore have been levied. Other builders’ name include Nivas Promoters, Sare Saamag Realty, Newtech Promoters and Developers, T.G.B. Realty, I.V.R. Prime Developers, La Residentia Developers and Logix City Developers.

The authority has directed these promoters to ensure compliance of its orders and deposit the amount of penalty within a month, failing which the amount of penalty shall be recovered as arrears of land revenue.

UP-RERA also revoked registration of Ansal API, Pocket 4, Sector-O, Sushant Golf City project of Ansal API. The authority had issued a show-cause notice to the promoter revocation of registration of its project in May 2019 on the grounds of violation of the terms and conditions of the registration.

The authority, after considering the reply of the promoter had kept the final decision on the show-cause notice on hold for a period of four months subject to the compliance of all the nine conditions specified in the above mentioned order. The promoter did not comply with the order and hence the authority vide its notice dated September 5, 2020, directed the promoter to submit the compliance report of its order.

The authority after considering the reply of the promoter Ansal API dated October 14, 2020 and its oral submissions, decided to revoke the registration of this project with immediate effect for the reasons of following glaring irregularities:

• Irregularities committed in the sale of units under the project
• The money was collected from the allottees without first obtaining a sanctioned map of the project which is proof of a fraudulent trading practice.
• No work has been done by the promoter over the previous 9 years, that is since the year 2011.
• The promoter has diverted an amount of Rs. 16.03 crore collected from the allottees of the project.
• Necessary compliances including the QPR of the project were not done on the website of the Authority.
• The promoter has not complied with the orders passed by the benches of the Authority on the complaints of the allottees.

The authority has also barred the promoter from accessing the registration page of the project on the website of the Authority has frozen the escrow account of the project in HDFC Bank, Hazratganj and has constituted a project monitoring and advisory committee under Bhanu Pratap Singh, member, UP-RERA for facilitating the remaining work of the project as per section 8 of RERA.

UP-RERA has taken this step for effective protection of the interests of the homebuyers and ensure compliance of the provisions of RERA Act. This is the 3rd project of Ansal API whose registration has been revoked by the authority.

Source: https://realty.economictimes.indiatimes.com/news/regulatory/up-rera-penalises-supertech-mahagun-others-revokes-ansal-api-project-registration/81590519

The Uttar Pradesh Real Estate Regulatory Authority (UP-RERA) has levied a cumulative penalty of over Rs 1.93 crore to 14 promoters over non-compliance of its orders under Section 63 of the RERA Act.

Supertech, Parth Infrabuild, Radicon Infrastructure & Housing, IVR Developers, Logix Infrastructure, Harsha Associates, Parsvnath Developers, Green Bay Infrastructure, Green View Cooperative Housing Society, Quality townshipm Rudra Buildwell, Buland Buildtech, Kindle Infraheights, J.S.S. Buildcon have been penalised.

Section 63 of the RERA Act empowers the authority to impose penalties up to 5 percent of the cost of the project for non-compliance of its orders.

The promoters have been ordered by the authority to ensure that the penalty amount is deposited through a demand draft drawn in favour of the authority within 30 days.

Rajive Kumar, chairman, UP-RERA said, “The authority is taking the compliance of orders passed seriously in order to provide justice to the home buyers. In cases of violation of the order speedy proceedings will be taken to complete the hearing before the concerned bench of the authority, impose penalty and ensure recovery on the basis of the findings and recommendations of the bench.”

It was also decided by the Authority that if the concerned promoter does not pay the penalty within the stipulated period, then the recovery certificate will be issued and District Magistrate will be commissioned to recover the amount as arrears of land revenue.

“The penalty will be imposed on a daily basis under Section-63 of the Act. The increase in penalty amount at the same daily rate will continue to happen till the time the promoter deposits the penalty amount and ensures full compliance of the order of the authority,” added Kumar.

So far, a total of Rs. 5.86 crore worth of penalty has been imposed on 24 promoters.

The authority has previously sent Recovery Certificates against two promoters for a cumulative sum of Rs 1.47 crore which have already been sent to District Magistrate, Lucknow for recovery. This decision has been taken by the authority to punish the promoters who are continuously failing to comply with the orders, result of which the allottees are being denied their dues.

Source: https://realty.economictimes.indiatimes.com/news/regulatory/up-rera-penalises-supertech-parsvnath-logix-infrastructure-others/80718614