LUCKNOW: Almost six years after Uttar Pradesh Real Estate Regulatory Authority (UP-RERA) came into existence to control the ill-practices in the real estate sector and safeguard the rights of consumers, it has settled close to 30,500 cases. However, the homebuyers and developers still see scope for improvement.
Speaking at the New Urban India - Transforming Urban Landscape conference-cum-expo at Indira Gandhi Pratishthan on Tuesday, UPRERA chairperson Rajiv Kumar said, “UPRERA resolved 40% of the total complaints across the country. Even during pandemic, we settled nearly 14,000 cases out of 15,000 by coordinating with developers, homebuyers and using technology.”
“Over the years, UPRERA has helped bridge the trust gap between developers and homebuyers,” he said.
Rs 150 crore was recovered against 1,000 recovery certificates and the sum was transferred to the accounts of homebuyers. Similarly, 342 projects were fined Rs 1.7 crore for delay.
Raunak Group director Rajan Bandelkar, who is also National Real Estate Development Council (NAREDCO) president, said, “The real estate market is no more dominated by developers, but by consumers. There are hardly any complaints from homebuyers for new projects, but there is a need to bring government departments and authorities under RERA Act ambit to help the sector grow.”
Confederation of Real Estate Developers Association of India (CREDAI) vice-president Manoj Gaur said, “Government agencies and departments like pollution control board, labour department etc. block timely completion of projects. They often misuse their powers and need to be brought under RERA Act. Many developers have opened a reconciliation desk to resolve matters with homebuyers before taking it to RERA.”
Appreciating UP-RERA, consumer activist Abhay Upadhyay said, “Now there is fear among developers due to RERA, but still we witness cases of promoters handing over incomplete projects. We need online monitoring of projects, so that immediate action can be taken before it’s late.”
