Vinay Lakhani Advocate ,U. P. Real Estate Regulatory Authority

10/06/2021

RERA Act 2016 was notified on 26th March 2016 and was implemented and made effective in Uttar Pradesh on 1st May 2017. The Act has increased transparency and confidence in the real estate sector; However, there are still certain challenges faced by the UPRERA Authorities today. To remove and amend the Act as per the requirements and challenges faced in the past four years.

Key Challenges faced by the RERA Authorities today
1. Timely hearings and pronouncement of orders within a specific time frame as cases are mounting and the backlog is growing day by day.
2. Ensuring compliance of provisions provided in the Act by Registered Promoters/Projects.
3. Ensuring ex*****on of Orders passed.
4. Completion of stressed/stalled projects u/s 8 of the Act.
5. Ensuring registration of Projects and Agents with the Authority.
UPRERA Act has been established to protect the interest of consumers of the real estate sector as well as regulate and facilitate the real estate promoter in the timely ex*****on of the project in an efficient and transparent manner. Even after the above challenges, UPRERA has resolved 35198* cases till today.

Footnotes-
* Figures obtained from the UPRERA website.

09/06/2021

There is an old proverb that says "When the going gets tough, the tough get going". In this period of a stressful, unpredictable, and unprecedented situation when the whole world is in a lockdown like state, one has to sublimate, channelize his/her energy into positivity, uplift, and tone their skills.
Be strong! Be brave! Strength is life, weakness is doom. Know you are the makers of your own destiny.

07/06/2021

Due to the Pandemic Virtual Hearing (VC) continues to be held in UPRERA in Lucknow & Gautam Budh Nagar.
Physical Hearing in UP Real Estate Appellate Tribunal remains disrupted due to the extension of lockdown in Lucknow.

04/03/2021

WHY WAS RERA INTRODUCED?

Having a roof over one’s head and home is a necessity for anyone. Hence, in a developing nation like India, the citizens invest heavily their fortune in the real estate market.

But, for a long time, home buyers have felt that there was no regulatory authority and no codified laws for the Developers, Builders, and Real Estate agents. Hence, after much deliberation and analysis, Real Estate (Regulation and Development) Act, 2016 was enacted in the parliament to establish an Authority that seeks to promote and regulate the real estate sector. It also ensures that sale of an apartment, building, or plot goes smoothly in an efficient and transparent and simultaneously protecting the interests of homebuyers. The Act also ensures that the development of the Real Estate sector is also taken care of by imposing certain duties on the allottees.

In short, RERA has been introduced for the following reasons:

Fair Transaction, Accountability and Transparency in the Real Estate sector.

To promote and regulate the real estate transactions in a transparent and efficient manner.

22/04/2020